Orient Magazine Issue 86 - April 2022 - Page 30

NEWS - FROM THE UK
Doing business with Ukraine and Russia during the current tensions
The following information for UK businesses has been shared by the Department for International Trade :
On 24 February the UK announced a new package of sanctions on Russia , full details are available here : https :// www . gov . uk / government / news / foreign-secretary-imposes-uks-most-punishing-sanctions-to-inflictmaximum-and-lasting-pain-on-russia
It is important that you ensure your business activities are compliant with the current sanctions against Russia and seek legal advice if necessary . The situation will obviously develop over the coming days and weeks , so you should continue to check the guidance pages listed below to understand the potential impact on your business and action you may need to take .
If you are planning to trade with Russia , you should check if your product is on the export ban list which can be found in the Russian Sanctions : Guidance document : https :// www . gov . uk / government / publications / russia-sanctions-guidance
There is a suspension of dual-use goods . You can assess your products to determine whether or not they are controlled and are subject to this suspension via : https :// www . gov . uk / guidance / export-controls-dual-use-items-software-and-technology-goods-for-torture-andradioactive-sources
Consular support is available to British nationals in Ukraine and Russia :
Consular support for Ukraine : https :// www . gov . uk / world / organisations / british-embassy-kyiv Consular support for Russia : https :// www . gov . uk / world / organisations / british-embassy-moscow
You can stay up to date with the latest government notifications on export controls by signing up to the Export Control Joint Unit ( ECJU ) e-alert service .
Notice to Exporters e-alerts : https :// public . govdelivery . com / accounts / UKECO / subscriber / new You should also consult the links below , which refer to 2019 and the latest 2022 financial sanctions relating to Russia .
UK Sanctions Relating to Russia : https :// www . gov . uk / government / collections / uk-sanctions-on-russia Russian Sanctions : Guidance : https :// www . gov . uk / government / publications / russia-sanctions-guidance Financial Guidance , Russia : https :// www . gov . uk / government / publications / financial-sanctions-ukrainesovereignty-and-territorial-integrity
Companies doing business with countries subject to sanctions must accept the risks of doing so , just as they accept other political and market risks . We suggest you take legal advice if you suspect your business could be impacted .
5 KEY INSIGHTS ON THE FUTURE-READINESS OF SMES culture and clear company purpose and value (20%). 2. These areas can help future-proof SMEs We define future readiness as a set of organiza- tional capabilities and orientations that enable companies to financially grow in the long term, impact society and the environment positively and successfully respond to shocks and seize opportunities that emerge from constant disruption. These are the key drivers of future-readiness. we asked them about concrete policies, processes, measurement, responsibility and incentives. However, some of the most future ready SMEs included in this work have shown the opportunities that come with a clear and measurable focus on social and environmental sustainability. This not only offers multiple value-creating routes for addressing SMEs’ highest-ranked challenges – talent acquisition and retention, access to funding etc. – it also offers them an opportunity to gain reputational benefits as champions of sustainability strategies. The Road to Net Zero: Sustainable and Responsible Investing Anil Scott, Private Wealth Manager, Select Investors 5. Digital transformation is key to survival 3. Being smaller gives you an edge The changing economic landscape and the increased speed required by businesses to succeed provides fertile ground for future-ready SMEs. Having fewer, and more direct, communication channels between departments and leaders in SMEs allows them to react more effectively and quickly to emergencies. When leaders are closer to the ground where problems arise, there is greater collaborative effort and alignment when team members “go back to the drawing board” and proactively solve them. Staying strategically small, investing in and trusting a core group of people, and keeping the organization agile can enable SMEs to identify and quickly act on opportunities. 4. Societal impact is an untapped opportunity The recent pandemic and subsequent fight for survival made it difficult for SMEs to focus on their triple bottom line of people, profit and planet. While a significant number of SMEs do include societal impact in their mission statement, this gets significantly thinner when While small entrepreneurs might struggle to fund their innovative business models and find talent to execute their vision, recognizing the importance of innovation itself is not a problem. Innovation seemed integral to SMEs’ perception of survival. This research also shows that digital infrastructure has a significant impact on sustainable growth, societal impact and adaptive capacity. Digital innovations have now become relatively inexpensive and widely available. When SMEs equip themselves with the necessary tools and network resources to execute their innovative vision, they stand to compete with larger organizations. We hope that this report will inspire and en- courage SMEs to become the next generation of champions, and that seeing the successful examples of their peers will help them harness their potential. We also hope that it will support our collective understanding about the role and impact that SMEs can have on global challenges and encourage the development of a supportive environment for the most future-ready businesses to thrive. We have long known that sensible, quality-focused stock selection that is sometimes a little prosaic as it delivers strong upside return, if only to better manage the vicissitudes of downside risk; while surely necessary for most people, essential in fact, can sometimes be unexciting. Very rarely is it the topic du jour. That was until we recently started to pay more attention to the very limited options that the planet we inhabit now has, thanks largely to our two-hundred year addiction to carbon. The investment community can be a powerful agent for change, as it essentially reflects the collective and laudable priorities and imperatives of many of us. Through our investment into our own portfolios of choice, for goals and ambitions that feature large in our personal lives, into companies and businesses that form the DNA of the global economy we signal that economic growth and profit is both beneficial and attractive. The herd which is the ’market’ is in fact a movement of immense power, as any competent securities trader will tell you. Businesses develop and grow the more efficient they are at managing resources and capital, and the profits thus made are reinvested into the cycle of growth and development. Shrewd investors that have the ability to pick winners, or if not, the agency to do so through their investment counsel stand to gain immensely, particularly over the fullness of time. The rich bounty that awaits the patient long-term investor with an eye on excellent assets trading at value is evidenced in empirical reality. For some things there is a cost however. Becoming financially secure is a dream for many of us, yet surely it is only worthwhile if we have a healthy and sustainable world in which to enjoy this. We believe therefore that to achieve social wellbeing and eco- nomic prosperity we need to both protect the planet, and shape a world that is fit for future generations. Money can and must be THE ROAD TO NET ZERO: SUSTAINABLE AND RESPONSIBLE INVESTING 31