UK Archives - OpenBusinessCouncil Directory

UK Launches Parliamentary Panel To Bridge Trade And Investment Ties With India

Hernaldo Turrillo — Mon, 01 Aug 2022 13:58:23 +0000

• A crucial step in the Post-Brexit era as skills shortage could cost the economy £30-£39bn per year.

• Gaurav Singh, founder of JPIN, the largest bilateral investment banking platform across UK/India, explains why India could be the key to lifting Britain out of its socio-economic slump.

UK Launches Parliamentary Panel To Bridge Trade And Investment Ties With India

In a step further accelerating the strategic collaboration between the UK and India, a new UK parliamentary panel has been created to promote trade, investment, and citizen ties with India. India (Trade and Investment) All-Party Parliamentary Group (APPG) was formally registered last week as part of India’s 75th anniversary of independence. The initiative aims to build an inclusive bridge between the two countries while supporting and promoting the India-UK free trade agreement (FTA) negotiations. This is a crucial step in Britain’s post-Brexit era, especially because the country’s skills shortage is likely to cost the economy £30-39 billion a year if no action is taken to source further talent, according to CBI Economics.

Gaurav Singh, founder of the largest bilateral investment banking platform across the two nations, JPIN, explains that the UK and India are fundamentally two pieces of a puzzle that come together to provide mutually beneficial support to one another during a crucial period of economic change in the post-Brexit era. Britain is currently experiencing the worst talent drought on record, which has subsequently stunted business growth across the whole nation.

In tandem, India – dubbed Asia’s Silicon Valley – is home to 25% of the world’s engineers, according to the National Science Foundation. In line with this, the British government’s desire to improve digitalisation and tech expansion will continue to be supported by India’s healthy pool of skilled talent. India’s IT industry currently has over 4.5 million skilled workers and has the potential to achieve up to $350bn in annual revenue by 2025. A partnership between both countries is set to further fortify trade security and is one of the biggest talent-based partnerships to exist globally.

India’s commerce minister, Piyush Goyal, has announced that India is on track to conclude a long-awaited trade agreement with the UK by October. In an agreement that has been hailed by Downing Street as a “centrepiece of Britain’s post-Brexit economic strategy”, Goyal has stated that 11 of the proposed pact’s 26 chapters were already “dusted and ready”, and will look to be finalised in the next few months.

The UK–India investment relationship is already worth £24bn and supports more than half a million jobs across the UK. Now, both players continue to explore the possibility of an interim agreement to provide quick gains that will benefit businesses on both sides. Britain has already made strides in securing a strategic partnership with India, with a primary focus on cyber security, science and education, and the APPG panel will look to further cement both countries’ reliance on each other.

Gaurav Singh, founder of JPIN, explains why India could be the key to lift Britain out of its socio-economic slump:

“India is one of the world’s largest economies and presents huge potential as a key partner for trade and investment for the UK. India is a 21st-century powerhouse and therefore, establishing a solid relationship with the UK in trade, technology and security could be significantly beneficial for both parties. The significance of the relationship between both nations cannot be underestimated.

“Britain has long been a global leader in terms of tech innovation, but it faces one of its toughest challenges currently in terms of a severe skills shortage. In a world where automation and AI are becoming increasingly important, companies need to have access to a large talent pool that can assist in fulfilling these roles.

“It’s great to see the creation of a new APPG panel with Britain and India, which would see a lot more cross-border partnerships between the two countries, creating jobs, fuelling innovation and above all positively contributing to both economies in a big way. It’s clear that closing this trade deal is a top priority for the government, and there appear to be fewer stumbling blocks as we edge closer to the finish line.

“India is goods and resource-wealth, growing exponentially, and will be the centre of the world trade in the coming decades. Therefore, building a trade and investment relationship here is particularly important to allow the UK to benefit from the immense growth India is already experiencing.

“The APPG panel will also look at ways that could help with small businesses in both countries, especially because the levelling-up agenda is such a pressing matter for the UK government. This will look to help future-proof the economy, and it’s fantastic to see that this, alongside the FTA deal, is coming into fruition.”

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post UK Launches Parliamentary Panel To Bridge Trade And Investment Ties With India appeared first on OpenBusinessCouncil Directory.

Where To Find The Best Pension Transfer Services In The UK

Hernaldo Turrillo — Sun, 26 Jun 2022 15:03:34 +0000

Where To Find The Best Pension Transfer Services In The UK

Retirement is an inevitable stage that everyone has to go through. Saving for your pension allows you to enjoy a smooth life once you get to the golden age. However, some instances may force you to change your pension services.

Whether you’re moving to the UK, changing jobs, or upgrading your pension scheme, pension transfer allows you to enjoy a smooth transition, knowing your future is secure. Consider these options if you’re looking for the most reliable UK pension transfer services.

Hargreaves Lansdown

Being one of the largest pension services in the UK, it offers you over 2,500 funds, investment trusts, and shares worldwide. Flexible retirement income is among the most coveted features available in this plan.

The available investment plans grow your money, and you benefit from a pool of experts that give you options you can invest in. The Hargreave Lansdown application lets you monitor your investment’s progress and allocates round-the-clock customer support.

A cashback program rewards each member for transferring at least £10,000 of their pension to HL. This program offers you an easy transfer option that you complete in a few steps.

Interactive investor

Interactive investor offers the least costly pension in the UK, thanks to its flat fee that doesn’t increase even when you have a significant pension share. Transferring your existing investments takes at most 12 weeks to complete, but the time can scale down to 8 weeks if there isn’t much to transfer.

II SSIP allows you to transfer your pension money from several other schemes, including:

Defined benefit occupational pension plans
Executive pension plans (EPP)
Occupations money purchase schemes (OMPP)
Pension in drawdown
Personal pension plans
Recognized pensions schemes from overseas
Retirement annuity plans (RAP)
Small self-administered schemes
SSIPs
Stakeholder pension plans (SPP)

With as little as £25, you gain a stable pension transfer program. You do not have to pay additional fees for withdrawing money from your plan. This option allows you to pick from various investment plans in the market. It also lets you transfer your pension online, making it a convenient option. Not forgetting you can transfer UK pension to France as long as there’s a recognized pension scheme within your jurisdiction.

Bestinvest

This reasonably big investment company offers multiple plans to choose from. You do not incur any cost when setting up the SIPP retirement plan. Stocks, general investment, shares ISA, and SIPP are the primary investment options you get when dealing with pension plans at Bestinvest.

You get to choose between the ready-made and DIY plans. Depending on the SIPP product you choose, you pay a maintenance fee varying between 0% – 0.4% of your total investment. Thankfully, you only have to pay this amount once a year.

The company offers in-depth intel on things you should consider before transferring your pension funds. They also avail expert advice to individuals with additional inquiries.

Penfold

Penfold prides itself in providing the first full-digitized pension platform in the UK. This software is fully integrated with every step you require to successfully move your old pension scheme to the new one. Every step has simple instructions that make it easy to complete the process without additional help.

You can track the transfer progress on the penfold app and see how close you are to securing your future. The app lets you see your progress regarding savings and tax contributions and offers a breakdown that would help you hit your goals much faster. New members joining the scheme using your referral link earn you £25 per person, which goes into building your account.

Aside from reducing the paperwork, this pension scheme reduces the amount you have to pay to manage your finances and grows your finances over time. And when you finally need to use your money, you do not have to hassle accessing your funds. Finally, when you change your mind about their services, they won’t charge you transfer fees when moving to a different provider.

Vanguard

With Vanguard, you do not have to worry about a minimum transfer. The company accepts any amount when moving to their pension scheme. It has an integrated service that allows you to link a personal and family savings account and track their progress in one location.

You won’t incur additional costs when wiring your pension funds to a Vanguard account. They do most of the work once you apply for a pension transfer. Even if you already have started taking money from your pension, this company allows you to move to their services, especially if it offers better management fees than your previous provider.

Final Thought

A pension transfer is standard in the UK, so you shouldn’t worry about ditching a provider that doesn’t meet your expectations. If you live in Australia but have already invested in a pension scheme within the UK, you can check out the available options that allow you to transfer UK pension to Australia effortlessly.

Hernaldo Turrillo

The post Where To Find The Best Pension Transfer Services In The UK appeared first on OpenBusinessCouncil Directory.

New UK Survey Reveals the Most Common Lies Candidates Tell on CVs

Hernaldo Turrillo — Mon, 13 Jun 2022 15:02:42 +0000

New UK Survey Reveals the Most Common Lies Candidates Tell on CVs

Have you considered lying on your CV? A survey from StaffCircle found that 32% out of 1,500 people lied in the past on their CVs, and it also revealed that 63% of respondents would lie, or rather be seriously tempted to lie again in the future.

Lies in the CV are complex problems to solve. HR departments need to employ a variety of tools to catch these liars. Rigorous background checks are an essential part of the toolkit.

What else can companies learn from the new survey?

Which age demographic are more prone to bending the truth?

The survey found the most likely demographic to fabricate parts of their CV were the 25-34-year-olds. 35-44-year-olds were the second most likely group to lie, followed by the 18-24-year olds.

Why are employees so dishonest to get the job they want? The most common lies tell the tale of the pressures candidates feel in the job market. The survey found the top three thing to are:

1. Work experience

Over 50% of the 1,500 people surveyed admitted they lied to cover their lack of experience. It is a common conception that when it comes to recruiting people for roles, experience is absolutely critical.

A lack of experience can hurt, even for entry-level roles. Many candidates might feel compelled to add a few extra years to their CVs to make their experience look more impressive.

Focusing too closely on work experience can hurt candidates and employers. It is important to pay attention to the candidate’s talents and abilities. Many transferable skills could help perform in many jobs, even if the candidate doesn’t have enough years’ work experience under their belt.

2. Skills

38% of respondents said they lied about their skills in their CVs. They could have over-exaggerated their capabilities to get into more senior roles.

Skill-based lies are hard to spot. Thorough background checks can help spot lies about work experience, but lies about skills are different. Companies should place greater care on using competency-based techniques during the interview process. They can help identify candidates’ strengths and weaknesses.

3. Previous salary

26% of people said they had told lies about their previous salary. Giving an impression of a higher salary in the previous role could help attract a better salary in the new job. But companies can spot salary-based lies with proper background checks. Tax paperwork reveals a candidate’s salary information, which is something organisations should check.

Are lies on a CV a good idea?

The survey revealed that 93% of those who had lied didn’t get caught, and at the time of the survey, 40% of them still had the position they had lied to get. Candidates who resorted to lies didn’t agree with the benefits, however, 58% of them said lies didn’t give them a competitive advantage; they didn’t think the lies boosted their career success.

The temptation to lie can always be there, but the consequences of getting caught are real. 14 out of the 1,500 respondents had faced legal action after they got caught. Candidates who lie could damage their reputation in the job market.

How can a liar be caught?

The survey highlights the many problems companies and candidates can face. The recruitment process doesn’t always work, and liars can slip through. Hiring a candidate who has lied can mean the wrong person ends up in the job.

An efficient employee performance management system can allow companies to evaluate high-level skills and assess if there are skills gaps in the workforce. Companies can understand their employees and how qualified they are to perform a job role.

Additionally, companies need to use rigorous background checks during the recruitment process. It’s crucial to also focus on candidates’ skills and competency. Skill-based interview techniques and further assessment after hiring are the keys to unleashing the full potential of potential and current employees. Finding the right person for the job requires a good understanding of what the role requires.

Hernaldo Turrillo

The post New UK Survey Reveals the Most Common Lies Candidates Tell on CVs appeared first on OpenBusinessCouncil Directory.

How Dental Offices Can Spend Their Marketing Money on SEO and PPC Ads

Hernaldo Turrillo — Wed, 25 May 2022 13:26:00 +0000

In recent years, most traditional marketing tactics have taken a back seat due to the rise of digital marketing strategies such as search engine optimization (SEO) and pay-per-click (PPC). One of the most critical aspects of marketing is focusing on the place where your target audience is. At this time, they are mostly on the internet.

Hence, print ads, TV and radio commercials, and referrals are no longer enough. Unfortunately, these are the methods that dental offices use to promote their services. Now, they have to embrace and start investing in digital marketing.

Joining the World of Digital Marketing

Digital marketing may seem like a bandwagon that everyone has to join. But it is more than that. It is now a vital element of every company’s marketing strategy. Having a solid online presence is crucial nowadays. Without a website or social media accounts, people will not be able to find you.

However, getting into digital marketing is not that easy. It is primarily a new concept to most businesses, especially dental offices. As a result, they are at a loss of where to start. Clinics are unsure what they need to do, what they have to prioritize, and how much of their budget they should allot to it.

Even though they are all in the same industry, dental offices do not require the same amount to invest in their digital marketing ventures. Dentists start their practices at different times. They also grow at different rates. So their marketing budgets should correspond to the current stage of their operations.

You can divide dental practices into three groups according to their stages:

1. Newly Established Practices

New players need to work extra hard on their marketing, unlike seasoned dental practices. They also have to move quickly to gain patients in just a short time.

New clinics have to put up a website where people can find all their products and services. They also have to implement SEO and PPC marketing to spread brand awareness and increase their visibility online.

Hence, setting aside enough budget for digital marketing from the beginning is essential. Start between 20% and 30% of your projected income. Dental offices can ease up once their SEO and PPC campaigns start acquiring patients.

2. Established Clinics That Want More Growth

A dental clinic requires 20 to 50 new patients a month to stay in business. However, there is a lot of competition in the industry. So finding new patients is not as easy as it seems.

Dental clinics need to update their website design and SEO. Search engines constantly make changes to their algorithms. So it is crucial to run a website audit to find out which gaps they need to fill.

Fortunately, clinics have to allot only 5% to 10% of their revenue this time. It already includes PPC ads for quicker lead generation and conversion. This will accelerate the process because SEO updates take up to six months to gain results.

3. Clinics That Have Stopped Growing and Losing Patients

Dental practices that cannot maintain 20 to 50 new patients a month tend to go stagnant. One of the reasons this happens is their poor marketing practices.

Many businesses sometimes forget to continue promoting themselves once they start getting clients. As a result, they stop gaining new conversions and lose them to their competitors, who are consistent in their marketing.

Shrinking clinics need to overhaul their websites and update their SEO. They need to update their keywords and fix broken links. Fortunately, using 5% to 10% of their earnings is enough for this revamp.

Setting the Proper Marketing Budget

Digitalauthority.me reports several factors influencing a dental office’s marketing budget. Knowing these factors allows them to determine how they can maximize their funds.

1. Popular Services

Dental clinics offer a range of services—extractions, whitening, root canal, dentures, veneers, and many more. They should determine their most popular services and capitalize on them by promoting them more.

2. Operating Costs

These costs consist of all the equipment, the clinic’s rent and utilities, and taxes. Dental offices have to make sure they can still cover their operating costs while allocating the budget for their marketing.

3. Worth of Each Patient

Dental clinics have a variety of patients. They should be earning up to $700 per patient annually. Grouping their patients according to their spending can help them determine how much they make per patient.

4. Required Number of Patients

As mentioned earlier, a dental practice should have up to 50 new patients per month. A clinic must have enough staff to cover this number of patients. Hence, they should have a set budget for additional staff.

5. A Patient’s Acquisition Cost

Inviting new patients to dental clinics has a corresponding cost of up to $300 per person. However, having an effective marketing strategy can lower this amount, which can help drive up their revenue.

Spending on SEO and PPC

The amount of money that dental clinics should spend on SEO and PPC depends on several things. Both digital marketing strategies should take note of their location and the level of competition in their market. Big cities are more competitive, so they will end up spending more.

Still, there are some minor differences. For SEO, they have to consider how big their practice is. On the other hand, PPC has to operate according to its goals and the services they want to sell. They also bid for the keywords they intend to use.

The funds they allocate for these marketing strategies will also be affected if they use other techniques. They may also utilize email, direct mail, print media, content, and social media.

Final Words

The success of a business does not only rely on the quality of its products and services. It also lies in its marketing. Without it, people will not know about its existence.

Marketing brings consistent growth by generating leads and converting them into customers, clients, and patients. It allows companies to expand in size and transition from local businesses into nationwide enterprises.

However, creating a solid marketing strategy requires careful planning. Dental offices have to conduct thorough research of their industry, market, and target audience. Moreover, they have to determine how much they should invest in it.

It may sound like a lot of work. Dentists already spend too much of their time catering to their existing patients. They also have to stay up to date with the current developments in their field.

Studying digital marketing may be the last thing in their minds. Fortunately, there are marketing agencies that are certified experts in this line of work.

These agencies can help them with all the technicalities. They can conduct the research and create a perfect marketing plan from the ground up.

You cannot take marketing for granted, especially in this day and age. There is a lot of competition, so you have to make sure you will be at the forefront to get everyone’s attention.

Hernaldo Turrillo

The post How Dental Offices Can Spend Their Marketing Money on SEO and PPC Ads appeared first on OpenBusinessCouncil Directory.

Science And Technical Industries See Highest Pay Increases During Pandemic

Hernaldo Turrillo — Wed, 29 Sep 2021 10:21:00 +0000

· Companies providing professional, scientific and technical services have seen an increase in wages of 11.4% from January 2020 to July 2021.

· Businesses in the Arts, Entertainment and recreation sector have seen the second highest increase of 10.84%.

· Accommodation and Food Services have seen the lowest increase, at just 0.75%.

Professional, scientific and technical services – including financial management, scientific research and development and agricultural have received the UK’s highest increase in average wage since the pandemic began, a new study shows.

Comparing ONS average wage figures from January 2020 with those from July of this year, research from leading software developers Bacancy Technology reveals that the average salary for those working in professional, scientific and technical services has gone up by 11.4% – the highest increase across industries in the UK. Overall, this sector’s monthly pay packet of £2,270 per month in Jan 2020 has increased to £2,529 in July of this year.

Roles within the Arts, Entertainment and Recreation sector have seen the second highest average wage increase, going up by 10.8%. The industry’s average has gone from £1,255 in January of 2020 to £1,391 in 2021 – a growth of £136.

Though positions within Finance and insurance saw the third highest percentage increase in wages of 10.6%, the sector saw the highest raw average financial increase from last January to this July, of £308. Average wages in this sector increased from £2,883 to £3,191 per month.

At the other end of the spectrum, employees within Accommodation and Food Services ranked with the lowest wage growth, both in percentage and raw financial increase – seeing an average increase of less than 1% – just £8 per month.

Construction services have also seen slow growth over the lockdown period, placing the second lowest in the table with an average increase of just 1% – an additional £23 per month to their pay checks.

Assessing these findings, a spokesperson for N.Rich commented: “This breakdown shows a number of interesting facts surrounding the UK’s most lucrative industries for personal financial growth over time. The rising demand for financial guidance, agricultural suppliers and medical research and development over lockdown has clearly impacted the wages received by the employees of these businesses.”

The study was conducted by N.Rich, which offers a rich array of intent data and ad inventory that enable marketers to drive awareness and lead generation effectively.

UK industry average wage increases – January 2020 to July 2021

Sector	Avg. wage in GBP (Jan ’20)	Avg. wage in GBP (Jul ’21)	Increase in GBP from Jan ’20 to July ’21	Raw financial increase rank	Percentage increase from Jan ’20 to July ’21	Percentage increase rank
Finance and insurance	2,883	3,191	308	1	10.68	3
Information and communication	2,836	3,129	293	2	10.33	4
Professional, scientific and technical	2,270	2,529	259	3	11.41	1
Arts, entertainment and recreation	1,255	1,391	136	4	10.84	2
Agriculture, forestry and fishing	1,668	1,803	135	5	8.09	5
Energy production and supply	3,228	3,358	130	6	4.03	15
Administrative and support services	1,580	1,707	127	7	8.04	6
Health and social work	1,768	1,895	127	8	7.18	8
Extraterritorial	2,796	2,920	124	9	4.43	14
Education	1,891	2,013	122	10	6.45	9
Real estate	1,995	2,104	109	11	5.46	12
Manufacturing	2,298	2,402	104	12	4.53	13
Other service activities	1,360	1,461	101	13	7.43	7
Transportation and storage	2,254	2,344	90	14	3.99	16
Wholesale and retail; repair of motor vehicles	1,476	1,557	81	15	5.49	11
Mining and quarrying	3,870	3,939	69	16	1.78	19
Water supply, sewerage and waste	2,457	2,517	60	17	2.44	17
Public administration and defence; social security	2,460	2,519	59	18	2.40	18
Households	910	963	53	19	5.82	10
Construction	2,196	2,219	23	20	1.05	20
Accommodation and food services	1,070	1,078	8	21	0.75	21

Hernaldo Turrillo

The post Science And Technical Industries See Highest Pay Increases During Pandemic appeared first on OpenBusinessCouncil Directory.

UK Fintech Exporter ICC Solutions Pens Deal To Make Card Payments Safer In The US

Hernaldo Turrillo — Wed, 30 Sep 2020 11:10:50 +0000

UK Fintech Exporter ICC Solutions Pens Deal To Make Card Payments Safer In The US

· ICC Solutions has secured a deal with a major US acquiring bank, seeing its turnover increase by a third over the next 5 years
· The Fintech exporter which helps businesses implement secure payments such as Chip & PIN, contactless and mobile phone
· The UK fintech sector is estimated to be worth around £7 billion to the economy and employs around 60,000

With an increasing number of businesses moving to contactless payments worldwide, one UK company has secured a deal with a major US acquiring bank to implement and safely test payment methods, which is set to increase turnover by 35% over the next 5 years.

Founded in 1996 by husband and wife David and Wendy Maisey, ICC Solutions was created out of the need for businesses to securely test card payments and prevent fraud.

An early deal with VISA in 2000 saw the company gain the global credibility it needed, leading to a well-respected position in the Canadian market in 2007 and subsequent recognition in the US.

As of today, ICC Solutions’ exports account for 94% of its overall turnover. Its technology is used by banks and merchants to implement secure payments such as Chip & PIN, contactless and mobile phone in over 100 countries worldwide, with the business employing 45 full time staff and looking to grow this in the coming months.

The Department for International Trade (DIT) has been providing support and opening networks, enabling the company to generate significant international growth. As a DIT Export Champion ICC Solutions has also been supporting and mentoring other businesses in their exporting journeys.

Co-founder and Director of ICC Solutions Wendy Maisey OBE said: “We started ICC Solutions after noticing that there wasn’t a way to safely test tools for card payments, this was a real gap in the payment industry. We then set out to design and create a software solution that took care of all the testing and certification, preventing fraud and saving large acquiring banks and businesses a great sum of money.

“Exporting has a significant impact on revenue, it has given us resilience to get through a situation like this, and it makes it exciting for the team.

“We are living in very uncertain times, so if you are considering expansion into different countries, speak to the Department of International Trade about doing so – their expertise is invaluable in understanding legislation when entering new markets.”

The UK fintech sector is estimated to be worth around £7 billion to the economy and employs around 60,000 people up and down the UK. In 2018, total trade between the UK and US was worth over £190 billion, with the financial services industry representing the UK’s largest service export to the US at £11.8 billion.

Miles Celic, Chief Executive Officer, TheCityUK, said: “As a world-leading FinTech hub, the UK offers ambitious firms a competitive base for their global growth.

“The US is one of the most important export destinations for our industry, which is why further strengthening our ties in future-focused areas like digital trade, FinTech and data is so important.

“Deepening the UK’s wider trade and investment relationship with the US will reinforce one of our most important trading relationships, and this has the potential to deliver wide economic benefits on both sides of the Atlantic.”

Minister for Exports Graham Stuart said: “It is fantastic to see such an innovative company adapting to the challenges of coronavirus and thriving in new markets. Our new free trade agreements will have a strong modern and digital focus, allowing British technology to thrive across the world in the coming years.

“The US is our largest trading partner and we will continue to champion free trade because we know that an agreement between our nations will provide UK exporters with a wealth of new opportunities.”

The fourth round of UK-US Free Trade Agreement negotiations took place earlier this month, with the exchange of tariff offers between the two nations, highlighting a significant progress and a notable milestone achieved since launching negotiations in May 2020.

Hernaldo Turrillo

The post UK Fintech Exporter ICC Solutions Pens Deal To Make Card Payments Safer In The US appeared first on OpenBusinessCouncil Directory.

4 Easy Ways to Improve Your E-commerce Site’s User Experience

Hernaldo Turrillo — Fri, 24 Jul 2020 15:03:38 +0000

Ecommerce is radically altering the retail landscape. Customers increasingly choose e-commerce for the convenience and wide selection it offers. This explains why e-commerce sales are expected to hit 4.5 trillion dollars in 2021. Furthermore, customers expect such products and related services to be competitively priced. However, it doesn’t mean that you have to cut your profit margin to nothing. Businesses can always get a competitive edge by offering a better customer experience. Here are 4 easy ways to improve your e-commerce site’s user experience.

Simplify the Checkout Process

You can’t afford for your checkout process to get in the way of customer conversions. Every piece of information you demand from them will cost you a customer.

For example, did you know that doing something as simple as making them select “Mr./Mrs./Miss” from a dropdown menu drives away 2% to 4% of those about to buy your product. In some cases, people might not like the data entry, while others are using phones that make such dropdown menus a hassle, if not impossible.

On the other hand, you can dramatically improve customer conversion rates by making the checkout and verification process as easy as possible. Use a service like Cognito to create customer accounts and profiles tied to the customer’s phone number. Now they don’t have to provide an email address or go through multiple fraud prevention checks, and your company gets key customer contact information that doubles as a unique identifier. If you want to learn more about Cognito and how it can help, you can get more information at cognitohq.com.

Provide Customer Support

Don’t forget to provide direct customer support. Give them the ability to send an instant message to the team when they have questions or encounter problems. You’ll dramatically improve customer satisfaction if you provide multiple channels for customer support like user forums, live chats, and product support lines. Just make sure you answer their questions in a timely manner. You can get the help of Qualtrics to ensure that your agents are performing satisfactorily.

Give Them Options

A surprising number of e-commerce customers ditch the shopping cart because they can’t pay their preferred way. So, give customers a variety of checkout options from PayPal to credit cards. Also, don’t forget to make the payments secure, as some people might be afraid to enter their credit card number if you can’t certify it.

Make Your Website Lean and Clean

One industry rule of thumb is that you’ll lose about 10% of your website visitors for every second it takes for the website to load. This is why your homepage should be lean and use only a few images that load quickly. A single, flawless, and branded image on the homepage is ideal.

Furthermore, you’ll lose prospective customers if they can’t figure out what the website’s purpose is. Create banners and titles that prove they’ve come to the right place. On the other hand, you shouldn’t throw pop-up ads in their way when they’re already there to buy. Nor should they be shown prompts to sign up for marketing emails, because they’re already in the final stages of the sales funnel.

Your website must meet customer expectations if you want to succeed in the online marketplace. Fortunately, you can beat your competitors if you can provide an exceptional customer experience.

This is an article provided by our partners network. It does not reflect the views or opinions of our editorial team and management.

Sponsored content

Hernaldo Turrillo

The post 4 Easy Ways to Improve Your E-commerce Site’s User Experience appeared first on OpenBusinessCouncil Directory.

Remote Working Is Transforming The UK Digital Economy

Hernaldo Turrillo — Mon, 03 Feb 2020 13:42:29 +0000

Remote working is transforming the digital economy and UK businesses must adapt to keep up

UK businesses are being advised to ensure they are ready to accommodate the rise of remote working – or risk being left behind as the digital economy takes off.

The advice follows the publication of a new essential guide to remote working, produced by utilities and communications specialist Glide, which contains new research, predictions and guidance for businesses.

Between 2008 and 2018, there was a 74% increase in the number of people working from their own home, while 68% say they’d like to work flexibly “in a way that is not currently available”.

Remote working has been found to boost employee well-being, help with recruitment and support business expansion, while 77% of workers report that flexibility at work is important to them. So, it’s no surprise that more and more business leaders are racing to incorporate the concept into their workplaces – but there are challenges to being able to facilitate remote working.

Benefits of remote working. Source: Glide

Potential obstacles include the risk of workers feeling isolated, with fewer natural opportunities for collaboration, alongside concerns regarding data security, while recent data suggests that 22% of current remote workers struggle to unplug after work, 19% feel lonely and 8% can’t stay motivated.

The new guide aims to tackle common issues associated with remote working, by equipping business owners with the insight they need to build an efficient framework.

James Warner, Managing Director of Glide Business said: “Where people once expected to travel to a place of work, clock in and stay there until eight hours later, employees are demanding more freedom. One of the biggest influencing factors has been the emergence of the digital economy.

He went on to say that traditionally, companies needed a physical presence to do business, but this is no longer a prerequisite, and many now exist solely to provide online services, or make their money from intangible assets, like software, these changes can include investing in software which allows for online document collaboration, cloud storage, and task management. These changes are making it less essential for employees to be physically present at their place of work in order for their task to be completed but evolving your business to provide this facility for employees isn’t without its challenges.

“It’s crucial that businesses embed a culture that is applicable inside and outside of the physical office, while a secure server, VPN access and a reliable superfast broadband connection are also essential for remote working facilitation,” James Warner concluded.

Hernaldo Turrillo

The post Remote Working Is Transforming The UK Digital Economy appeared first on OpenBusinessCouncil Directory.

Thriving Technology Sectors in the UK

Hernaldo Turrillo — Thu, 29 Aug 2019 12:19:58 +0000

Thriving Technology Sectors in the UK

Technology sectors in the UK are thriving and have thusly brought about an increased level of awareness to the public consciousness. The government-driven Digital Economy Council have announced that there are now multiple tech unicorns in six UK cities including; Leeds, Bristol, Manchester, Edinburgh, Oxford and Cambridge. Although the Tech sphere in Britain does appear to be flourishing, investment outside of the capital is still relatively small in relation to London, despite being home to several unicorns.

Passionate to inspire angel investors in the regions, the UK Business Angels Association have conducted national research into regions that are the most forward facing with their choices of investment portfolios. The research found that a high proportion of angel investors were looking to invest into tech based companies in the next two years, with the North East being the most prominent region, compared with the national average of 24%.

North East – 44%
London – 37%
West Midlands – 30%
Scotland – 29%
North West, Yorkshire & Humberside and South East – 21%
Wales – 18%
East Midlands – 17%
East of England – 16%
South West – 15%
Northern Ireland – 12%

According to an independent report by the UK 2070 commission, the UK is one of the most regionally unbalanced countries in the industrialised world and the disparities will widen unless the government adopts a radical programme of investment.

Jenny Tooth OBE, CEO of the UK Business Angels Association, has commented on the findings of the research:

“Disparities in regional investment are still hugely prevalent in the UK. For every £10 of business investment in the UK, £6 is received by those in London. What our research has shown though is greatly encouraging. Angel investing is such an important source of investment for SMEs in the UK and it would seem that Angels are yet again going providing essential investment for those in the regions.

Newcastle has recently become incredibly important for the British tech sector, attracting over £25m in investment during 2018. The future for the tech sector in the North East looks to be particularly prosperous and I hope that other regions can indeed take inspiration from the North East. I too hope that this discovery will inspire Angel investors from across the country to be more active in their respective regions too. The keys to solving the problem of regional disparities will be education and bringing investors and entrepreneurs together which the UK Business Angels Association has started to achieve through their regional Angel Hubs and the series of Connected Investing events.”

Hernaldo Turrillo

The post Thriving Technology Sectors in the UK appeared first on OpenBusinessCouncil Directory.

Why Is The UK the Best Place In Europe For Freelancers?

Hernaldo Turrillo — Tue, 20 Aug 2019 12:01:13 +0000

Why Is The UK the Best Place In Europe For Freelancers?

With the development of technology that has made it easier to find and execute short-term freelance work, the gig economy has grown at an immense rate in recent years. Since 2016, the arena has more than doubled from 2.3 million workers to 4.7 million. The flexible workforce also provides huge boosts to the overarching economy. The Association of Independent Professionals and the Self Employed estimates that the figure contributed by the gig economy stands at £130 billion.

A recent report on world’s best freelance markets named the UK as the second most lucrative country in the world for gig economy workers with Britain having seen a 59% increase in freelancer revenues in the past year. The ten countries that are most lucrative for freelancers based on year-on-year revenue growth are:

USA – 78% increase in freelance revenues
UK – 59% increase in freelance revenues
Brazil – 48% increase in freelance revenues
Pakistan – 47% increase in freelance revenues
Ukraine – 36% increase in freelance revenues
Philippines – 35% increase in freelance revenues
India – 29% increase in freelance revenues
Bangladesh – 27% increase in freelance revenues
Russia – 20% increase in freelance revenues
Serbia – 19% increase in freelance revenues

So why is the UK such a good home for freelancers?

With the expansion of the gig economy comes the advent of services that are specifically designed for freelancers. Recruitment agencies in the UK have grown by 46% in the past two years and now more of these are specifically dedicated to helping freelancers find short-term work.

As well as helping the flexible workforce find work, there are now services that help freelancers with their finances whilst working. These include banks that have specific accounts to help freelances with their business accounts. Not only are there services designed to help freelancers, but also those hiring them with a few companies providing innovative timesheet solutions for employers utilising the gig economy.

With the boom in those opting to work freelance there has also been a sharp increase in office spaces designed for freelance workers with co-working spaces that allow a variety of freelancers to work in the same environment becoming increasingly popular.

Nick Woodward, CEO of ETZ Payments, offers the following commentary: “It is great that the UK is such an excellent breeding ground for innovative freelance work. The gig economy is growing exponentially and is only likely to continue with more and more highly skilled workers opting to work in a freelance capacity to earn more money and achieve a better work/life balance. As this trend develops we can expect services which are dedicated to freelancers to grow with companies being built to offer services in legal and financial aid to those in the gig economy.”

Hernaldo Turrillo

The post Why Is The UK the Best Place In Europe For Freelancers? appeared first on OpenBusinessCouncil Directory.