The UK economy continues to show resilience, with a July 2024 composite PMI of 52.8, outperforming the Eurozone. Despite challenges like high inflation at 7.9% and a 5.25% interest rate, the UK remains a bright spot in Europe’s economic landscape.
UK SMEs can unlock £9.3bn by exporting via e-commerce. Despite Brexit challenges, 66% have mastered EU customs, with 9% entering non-EU markets. Priorities include smoother customs, lower tariffs, and reduced trade barriers for easier global growth.
Meal-kit providers such as HelloFresh and Gousto are rethinking strategies post-pandemic, focusing on profitability and operational efficiency while navigating slowed growth. Global meal-kit revenue is projected to grow to $19.5bn by 2028.
The UK government plans to permanently cut business rates for retail, hospitality, and leisure properties from 2026, funded by higher taxes on top-value properties like large warehouses. Employers will also benefit from increased Employment Allowance.
If Donald Trump imposes a 20% tariff on all imports, UK exports could suffer a £22 billion blow, affecting sectors like fishing, petroleum, and mining. This could reduce UK economic output by 0.8%, and UK leaders are urging the US to reconsider the impact on allies.