{"id":714766,"date":"2022-11-24T04:58:05","date_gmt":"2022-11-24T09:58:05","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/uk-businesses-preparing-for-sales-to-get-worse-before-they-get-better-survey-shows\/"},"modified":"2022-11-24T04:58:05","modified_gmt":"2022-11-24T09:58:05","slug":"uk-businesses-preparing-for-sales-to-get-worse-before-they-get-better-survey-shows","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/uk-businesses-preparing-for-sales-to-get-worse-before-they-get-better-survey-shows\/","title":{"rendered":"UK Businesses Preparing for Sales to Get Worse Before They Get Better, Survey Shows"},"content":{"rendered":"<p>        <!--.bwlistdisc { list-style-type: disc }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p>\nUK Businesses Preparing for Sales to Get Worse Before They Get Better, Survey Shows\n<\/p>\n<p><b>New research from Payoneer shows almost half (41%) of surveyed UK e-commerce businesses are preparing for a downturn<\/b><\/p>\n<p>LONDON&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.payoneer.com%2F&amp;esheet=52977848&amp;newsitemid=20221124005124&amp;lan=en-US&amp;anchor=Payoneer&amp;index=1&amp;md5=919e6443b46df9b8e833d2b05d0e810b\">Payoneer<\/a> (NASDAQ: PAYO), the commerce technology company powering payments and growth for the new global economy, published today findings from its UK e-commerce study. Responses reveal some of the biggest issues UK businesses are currently facing.\n<\/p>\n<p>\nFollowing the UK Government&#8217;s Autumn statement, which set out a raft of new measures aimed at protecting small businesses in the UK, Payoneer\u2019s study details issues including Brexit, COVID-19 and the cost-of-living crisis. Findings show that the uncertain economic landscape, coupled with skill shortages across the job market, are having a huge impact on the UK economy. Crucially, Payoneer\u2019s latest study highlights some of the ways that SMBs are looking to combat these issues. Key findings include:\n<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nAlmost half (41%) of the surveyed businesses say they only expect business to get more difficult over the next 12 months\n<\/li>\n<li>\n64% of businesses say they expect economic uncertainty to be the biggest threat or challenge to their business over the next 12 months\n<\/li>\n<li>\nOver two thirds (68%) cite decreased sales as a direct consequence of Brexit\n<\/li>\n<li>\nOver half (53%) of respondents say they view the rising cost of living as a barrier to investing more to expand sales abroad\n<\/li>\n<\/ul>\n<p>\nIn addition to some of these key challenges, retaining and recruiting staff is another area of difficulty for UK SMBs with over a third (34%) saying Brexit has had an even bigger impact on this than the pandemic itself. The UK\u2019s rising economic inactivity rate was also on the agenda last week with Work and Pensions secretary, Mel Stride, tasked with tackling the number of workers dropping out of the job market. Alongside staffing issues, the cost-of-living crisis looms large, with 62% saying inflationary pressures will be their biggest threat over the next year. Chancellor Jeremy Hunt confirmed in his Autumn statement that the UK inflation rate is predicted to be 9.1% this year and 7.4% in 2023.\n<\/p>\n<p>\nTo combat these challenges, 46% of survey respondents are now looking at direct-to-consumer (DTC) sales as the biggest opportunity for their business in the next 12 months, with 38% looking to social commerce. Not content with only finding new places to sell, over half (58%) say they will look to provide new deals and offers to consumers, as well as freezing prices (31%), over the next 12 months as they increasingly look for other ways to survive. Almost 1 in 10 (7%) are looking to the metaverse.\n<\/p>\n<p>\nDespite the gloomy outlook for many, reasons for cautious optimism were also found. With less of a focus on brick-and-mortar business, and in line with earlier findings around DTC sales, almost two thirds (62%) say they\u2019re likely to grow their online presence in the next year. Fortunately for many, the government also announced last week that it would not be proceeding with introducing an Online Sales Tax. By extending their online presence, businesses are able to reach more customers across borders and over a third (36%) say they\u2019re looking to enter new markets over the next 12 months. Specifically, decreased sales in Europe has led some businesses to progress other global opportunities, with 15% looking to North America and 9% to Asia.\n<\/p>\n<p><b>James Allum, Senior Vice-President of Payoneer in Europe, commented on the findings:<\/b> \u201cThe consequences of unforeseen consecutive external events have been devastating for so many and a massive challenge for global commerce. Fortunately, the digitalisation of commerce means that now more than ever, UK businesses can participate in a global economy and tap into previously unavailable opportunities. We hope these opportunities will be pivotal as businesses fight to overcome all these hurdles.\u201d\n<\/p>\n<p>\nPayoneer\u2019s full report can be found <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.payoneer.com%2Fresources%2Fuk-ecommerce-sellers-weather-the-storm%2F&amp;esheet=52977848&amp;newsitemid=20221124005124&amp;lan=en-US&amp;anchor=here&amp;index=2&amp;md5=ae59ff4d67f27c855c0bdcb46749e5a9\">here<\/a>.\n<\/p>\n<p><b>About the research<\/b><\/p>\n<p>\nIn September 2022, Payoneer surveyed 130 small and medium-sized businesses (SMBs) in the retail sector in the UK that sell online and export abroad, on marketplaces or direct-to-consumer (D2C) to identify the impact of macro events, like the economic downturn, Brexit or the pandemic, on UK e-commerce and how businesses are affected by these.\n<\/p>\n<p><b>About Payoneer<\/b><\/p>\n<p>\nPayoneer is the world&#8217;s go-to partner for digital commerce, everywhere. From borderless payments to boundless growth, Payoneer promises any business, in any market, the technology, connections and confidence to participate and flourish in the new global economy.\n<\/p>\n<p>\nSince 2005, Payoneer has been imagining and engineering a truly global ecosystem so the entire world can realize its potential. Powering growth for customers ranging from aspiring entrepreneurs in emerging markets to the world&#8217;s leading digital brands like Airbnb, Amazon, Google, Upwork, and Walmart, Payoneer offers a universe of opportunities, open to you.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20221124005124r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20221124005124\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20221124005124\/en\/<\/a><\/span><\/p>\n<p><b>Media<br \/>\n<\/b><br \/>Irina Marciano<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:PR@Payoneer.com\">PR@Payoneer.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United Kingdom Europe<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Software Networks Finance Banking Professional Services Technology Online Retail Retail<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20221124005124\/en\/1499629\/3\/Payoneer_Master_Logo_OnWhite_RGB.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>UK Businesses Preparing for Sales to Get Worse Before They Get Better, Survey Shows New research from Payoneer shows almost half (41%) of surveyed UK e-commerce businesses are preparing for a downturn LONDON&#8211;(BUSINESS WIRE)&#8211;Payoneer (NASDAQ: PAYO), the commerce technology company powering payments and growth for the new global economy, published today findings from its UK e-commerce study. Responses reveal some of the biggest issues UK businesses are currently facing. Following the UK Government&#8217;s Autumn statement, which set out a raft of new measures aimed at protecting small businesses in the UK, Payoneer\u2019s study details issues including Brexit, COVID-19 and the cost-of-living crisis. Findings show that the uncertain economic landscape, coupled with skill shortages across the job market, are having a &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/uk-businesses-preparing-for-sales-to-get-worse-before-they-get-better-survey-shows\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;UK Businesses Preparing for Sales to Get Worse Before They Get Better, Survey Shows&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-714766","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>UK Businesses Preparing for Sales to Get Worse Before They Get Better, Survey Shows - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/uk-businesses-preparing-for-sales-to-get-worse-before-they-get-better-survey-shows\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UK Businesses Preparing for Sales to Get Worse Before They Get Better, Survey Shows - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"UK Businesses Preparing for Sales to Get Worse Before They Get Better, Survey Shows New research from Payoneer shows almost half (41%) of surveyed UK e-commerce businesses are preparing for a downturn LONDON&#8211;(BUSINESS WIRE)&#8211;Payoneer (NASDAQ: PAYO), the commerce technology company powering payments and growth for the new global economy, published today findings from its UK e-commerce study. Responses reveal some of the biggest issues UK businesses are currently facing. Following the UK Government&#8217;s Autumn statement, which set out a raft of new measures aimed at protecting small businesses in the UK, Payoneer\u2019s study details issues including Brexit, COVID-19 and the cost-of-living crisis. 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Responses reveal some of the biggest issues UK businesses are currently facing. Following the UK Government&#8217;s Autumn statement, which set out a raft of new measures aimed at protecting small businesses in the UK, Payoneer\u2019s study details issues including Brexit, COVID-19 and the cost-of-living crisis. 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