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Retail workers face money challenges at alarming rate

31 May 2023

A report published by financial institution Claro Money’s wellbeing division on the effects of money worries for retail workers found that 73% of retail workers feel negatively about their... Read more…

Federation of Independent Retailers says more needed to be done to support smaller businesses in Wales

24 May 2023

Whilst it has welcomed some elements of the Welsh Retail Action plan, the Federation of Independent Retailers (the Fed) said more is needed to be done to support smaller businesses.
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Nearly half of customer service staff consider quitting over growing customer abuse

22 May 2023

More than two-fifths (44%) of customer service staff are considering leaving their roles due to increasing levels of cost-of-living fuelled abuse from customers.
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Friendliest high-street businesses include hairdressers and coffee shops, reports new study

22 May 2023

More than half of Britons (55%) say they have received helpful life advice from a local small business owner, new research reports.
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Mixed picture emerging about Coronation effect on retail

9 May 2023

A mixed picture is emerging about the effect of the Coronation weekend across the UK's retail sector.
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Nominations open for British Business Awards 2023

9 May 2023

Nominations have opened for the 2023 British Business Awards.
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Independent retailers look to loyalty schemes to keep up with supermarkets

9 May 2023

Independent retailers are racing to keep up with rivals and retain customers as the battle for loyalty intensifies among supermarkets.
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Government urged to reinstate Tax Free shopping with UK Retailers missing out as sales surge across Europe

9 May 2023

The European retail sector has enjoyed its best month for international spending on Tax Free goods since the end of the pandemic after sales surged by 40% month on month in March 2023, taking... Read more…

Consumers feel protective of independent shops and want to support them for their ‘social good’

27 Apr 2023

New research has found that consumers feel protective of independent shops and want to support them for their ‘social good’.
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Worldwide retailers seeking new ways to attract shoppers as spending slows

26 Apr 2023

Europe's cost of living crisis has benefited discount retailers, but mid-market names are being squeezed as shoppers watch their spending, executives and analysts at an industry conference said... Read more…

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New King’s banknotes to enter circulation by mid-2024

Posted on in Business News, Cycles News

New banknotes featuring King Charles are to enter circulation by mid-2024. The King’s portrait will appear on four polymer banknotes (£5, £10, £20, and £50).

Charles notes

The rest of the design on the banknotes will remain the same, including the security features that retail staff check during transactions.

There is no action for retailers to take right now. Retailers should continue to accept polymer banknotes that feature the portrait of the late Queen Elizabeth II.  Banknotes featuring the late Queen and the King will be in circulation at the same time.

If you use machines to authenticate banknotes (excluding ultraviolet lights), you will need to update these ahead of the new King Charles notes entering circulation.  These updates are normally made available by machine manufacturers a few months before a note enters circulation.

The new banknotes will only be printed to replace those that are worn and to meet any overall increase in demand for banknotes. The Bank of England's approach is in line with guidance from the Royal Household, to minimise the environmental and financial impact of this change.

You can find the Bank of England’s free banknote education materials to train your employees and ensure they know what to look out for here.

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