Weak pound will see focus on UK trading, says OnBuy

The weak pound will see a renewed focus on trading within the UK as resilience and determination is called upon by Britain’s traders.

Entrepreneur and managing director of the British marketplace, OnBuy believes that the shock outcome of yesterday’s election will see a larger onus being placed on trading within the UK.

“British businesses need stability, so in that sense a Hung Parliament wasn’t the result some would have hoped for,” he said.

“However, as a British marketplace, we know that resilience and determination are in our country’s make-up.”

Amid reports of the falling pound, hitting new lows against the dollar and the euro, Paton believes the e-commerce channel will remain strong.

“Just as the economy bounced back from the referendum vote, so will the channel remain strong despite this. In the field of e-commerce in particular we will see businesses continue to focus on the UK to guard against whatever might happen next.

“Change always brings opportunities and with the cost of importing goods potentially rising post-Brexit, we think we will see a renewed focus on trading within the UK.

“Certainly at OnBuy we have seen no signs that political uncertainty ever dents the entrepreneurship and spirit that sums up Britain’s approach to business.”

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