NEWS
London businesses set to power through economic turbulence , say London Chamber of Commerce
London businesses are positioned to power the country ’ s economic recovery as they shake off uncertainties , according to the latest report from the London Chamber of Commerce and Industry ’ s ( LCCI ).
Nearly a quarter ( 24 %) of the capital ’ s businesses noted an increase in domestic sales in the second quarter of this year , up from 21 % in the three months to March .
The report significantly depicts how London ’ s economy is on the up , despite firms battling inflationary threats , rising costs and consumer demands . Last quarter ’ s improved performance is also lifting confidence in future income flows as nearly two in five companies expect their turnover and profitability to increase in the next 12 months . Richard Burge , Chief Executive of the LCCI said the research : “ shows yet again the resilience and entrepreneurial drive of the London business community despite the economic headwinds .”
Employment demand is rising in the capital with only five per cent of companies planning to streamline their workforce , and a greater 22 % are set on bringing in new staff . Neh Thaker , Cofounder of HedgeFlows , added : “ It is great to see that the current economic climate is brimming with confidence , providing a solid foundation for companies that aspire to expand their operations overseas . Such conditions are crucial to create a fertile ground for businesses to venture into international markets and reap the benefits of globalisation .
Taking the time to invest inward , in innovative tech and hiring new talent , can significantly help reduce barriers to entry and facilitate cross-border operations . With boosted confidence , efficient networks and digital platforms , companies can begin to establish and enhance their presence in international markets with relative ease and afford them a competitive edge abroad .”
Revolut launches in New Zealand
Revolut , the global financial app with more than 30 million customers worldwide , has launched its services in New Zealand . For the first time ever , New Zealand residents will get access to Revolut ’ s money app that enables them to affordably hold , send and spend in multiple currencies locally and when travelling , as well as save , track and manage all their finances in one digital location .
More than 26,000 Kiwis have already registered their interest in joining the Revolut platform by signing up to the waitlist over a 12-month test period . Revolut ’ s launch marks a momentous milestone for financial services technology in New Zealand .
Revolut ’ s Australia & New Zealand CEO , Matt Baxby said : “ We are incredibly excited to be launching Revolut in New Zealand to enable Kiwis seamless and affordable global money management experience , secure budgeting and analytics features , as well as advanced physical and digital card control capabilities , in one seamless location . We are excited to not only empower Kiwis with greater financial well-being , control , convenience and transparency , but also increase consumer choice and drive competition across the financial services sector in New Zealand which has traditionally been underserved ”.
Revolut ’ s Head of New Zealand , Georgia Grange added : “ From digitising the way they track their spending , to enhancing their global travel experience , Revolut will be a first of its kind for New Zealanders ”. �
12 www . intelligentfin . tech