The post-referendum fall in the pound’s value will boost exports and cushion the economy from the uncertainty of leaving the EU, forecasts suggest. It forecasts the UK economy will grow by 1.9 per cent in 2016, down from previous predictions of 2.3 per cent. With sterling set to be 15 per cent down on its year-on-year value, the club says, exports could increase by 3.4 per cent next year, as overseas buyers take advantage of the cheap pound. The group expects growth to return to a more healthy 1.4 per cent in 2018, although this is still below its forecasts before the referendum. The group predicted a rise in unemployment, and that interest rates will be cut to zero by the end of the year. The Item Club suggests that growth will really suffer next year, having revised its 2017 predictions down from 2.6 per cent to just 0.4 per cent. The report comes just two weeks after the UK voted to leave the European Union, which sent sterling falling to 31-year lows. This will have a knock-on effect on disposable income. The Federation of Small Businesses was more optimistic, saying 21pc of small firms already do business overseas and a further 21pc are considering starting to export. Exports are likely to be the silver lining in the Brexit cloud, with the weaker pound meaning UK-made products are cheaper abroad, according to the Ernst & Young Item Club. Peter Spencer, the club’s chief economic advisor, said the UK economy could suffer ‘a severe loss of momentum in the second half of this year’. He added: ‘Longer-term, the UK may have to adjust to a permanent reduction in the size of the economy, compared to the trend that seemed possible prior to the vote. However, Item Club economic forecasters went on to predict that the UK economy will face a sharp slowdown next year. Imports, though, would fall by 0.3 per cent. A low pound is good for exporters because it means it costs overseas firms less to buy British products, and boosts demand. Elsewhere, the club expects the Bank of England to cut interest rates to zero by November, but this will not be enough to stave off an inflation rise above 2 per cent. It has revised down its forecast for output growth in the wake of the EU referendum. Small companies which export have an average annual turnover of £935,000 compared to the £390,000 brought in by those who only trade on home soil. It called on the Government to remove hurdles for businesses seeking to trade overseas, and to provide tailored support. Prime Minister Theresa May last week created the new role of minister for international trade, and appointed Liam Fox to the post, signalling her support for the UK to do more business abroad. A separate survey, by the Federation of Small Businesses, suggests the number of small businesses exporting abroad could double.
With Love Darling believes in changing the world one piece of jewellery at a time.
The brand focuses on creating timeless, versatile pieces tailored to the modern woman’s everyday wardrobe. I was tired of sacrificing style for quality, or my bank account for both’ says Neima Row founder Naomi Genes. Made by small workshops all over the world, each piece holds a story. The pieces are gorgeous too – from delicate pendants to eye-catching hoops, available in either 18ct gold vermeil or sterling silver. The brand uses solid metals – not plated or vermeil, and promises no green fingers or brass rash. It specialises in bright, colourful jewellery. With Love Darling believes in changing the world one piece of jewellery at a time. After working in the jewellery industry for 10 years, Amelia Bainbridge saw a gap in the market for jewellery that was both beautiful and affordable – and Auree was born in 2014. All Auree pieces are made with the highest quality solid gold, sterling silver or gold vermeil and natural gemstones. Items are produced in developing countries, giving the artisans income to lift themselves and their families out of poverty. So she decided to make her own. Founded by Amelia Hitchcock-Merritt in the middle of lockdown at just eighteen, Bijoux De Mimi became one of the fastest growing jewellery brands in the UK. It always came with lengthy care instructions and still tarnished after only a few wears or turned my skin green’ she says. Prior to starting Bijoux De Mimi, Amelia attended Central Saint Martins. Crystals & Co. founders (and best friends) Emily Mackeogh and Leah O’Reilly aim to accessorise peoples lives with fun, high quality affordable jewellery. Think timeless glamour meets modern minimalism, without the unattainable price tag. Catherine ‘Catch’ Rhys Jones started her label out of a frustration with the jewellery she was buying.
Sterling Silver Scottish Jewelry
It was established in 2009, with the ethos that jewellery should say a lot about who you are, whether big and bold or delicate and gold. Pieces are made in sterling (https://www.backtoglamour.com/blog/2024/07/04/silver-plated-metal-beads-jewelry/) silver with 18ct gold vermeil. Abby is a big believer in the talismanic and restorative power of jewellery, and strives to create designs that are both ethical and fashioned with love. The brand is named after Olivia’s mother Deborah Louise who Olivia sadly lost to cancer in 2017. With the loss of her mother, Olivia felt life was too short to not be truly passionate about the everyday and D.Louise was born. After growing up in Singapore, founder Lynette Ong left her job in finance to pursue a dream of using her creativity for the better. Scream Pretty’s signature style is the curated ear – combining piercings and ear cuffs, to create bold stand out styling. Award winning British Jewellery Brand Scream Pretty was founded by Lucy Lee with her sister Jessica Pearce in 2016. This family run business designs jewellery for self expression; affordable, stylish and fun – jewellery to shout about. The ranges include a collaboration with Vogue Williams. The eclectic collection draws inspiration from founder Abby Kaye’s past experiences and travels through India, as well as her childhood in London and love of nature. Olivia’s pursuit began when she identified a gap in the jewellery market – the need for everyday pieces that wouldn’t fade after a few wears – with this every piece comes with a lifetime guarantee against colour fading. Founded by Olivia Jenkins in 2021, D. Louise creates timeless long-lasting yet affordable jewellery. Dreamt up on a bicycle ride through Rajasthan, India, the British jewellery brand Memara was launched in 2019, with the aim to create beautiful, timeless yet affordable demi-fine pieces.
Inspired by a wealth of artisans selling beautiful jewellery on her travels around Asia, Edge of Ember was born. Designs are hand crafted through the process of lost wax casting in her studio, and stone setting takes place nearby in Hatton garden. Cult of Youth is a London-based silver jewellery brand founded by Kelly Seymour in 2011. The brand started out on a stall at Portobello Market, before being picked up by Urban Outfitters and sold at its stores. These stories of romance, travel and history were the founding concept behind Carousel Jewels: modern jewellery that takes us back. Each piece of jewellery is created from start to finish within a small area of North London. The collection includes base earrings and chains, complemented by a range of interchangeable statement pendants to customise your look. The Cult of Youth collection has since expanded to include on-trend, fashionable jewels with a rock ‘n’ roll edge at accessible price points. Harfi’s mission is to bring affordable, demi-fine jewellery to shoppers, working directly with its artisan partners. Stellar 79 is a British demi-fine jewellery brand created by sisters Natasha and Sheena. Founder Sally Louise was inspired by the films of grandparents’ time, from Casablanca to Gone with the Wind and Lawrence of Arabia. With dual Mauritian-Trinidadian heritage and London roots, the co-founder’s mission is to create inspired, authentic, and expressive jewellery made with a conscience. Deborah is very mindful that the business be as sustainable as possible, and so she uses recycled silver and gold in all of the pieces. Her passion for the arts and love of nature combined to influence her process, which finds beauty in imperfections. London-based jewellery designer, Deborah Blyth began designing in 2004, whilst living in Italy. In 2015, the brand shifted tack as Seymour gave birth to her son, Elvis, and started to document her life as a single mother, entrepreneur and jeweller. A silver letter necklace spelling out MAMA became a bestseller, and this motif has been applied to new styles including rings and lockets. The sisters draw inspiration from their combined passion for art, fashion, travel, music, and culture across the South Asian diaspora to unify and celebrate cultural heritage and nostalgia with the present day.