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Businesses must “remain resilient” despite political uncertainty

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British entrepreneur Cat Paton has said British businesses should “remain resilient” following the hung parliament election result.

Following a significant drop in the value of the sterling, Paton, managing director of British marketplace OnBuy, said the currency value may encourage a “renewed focus on trading” within the UK.

The pound dropped by as much as 2.3% against the dollar on Friday morning.

Paton said: “British businesses need stability, so in that sense a hung Parliament wasn’t the result some would have hoped for. However, as a British marketplace, we know that resilience and determination are in our country’s make-up.

“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.”

He added: “We’ve seen no signs that political uncertainty ever dents the entrepreneurship and spirit that sums up Britain’s approach to business.”

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