The Small Business, Enterprise and Employment Bill is going through parliment now
The Bill will open up new opportunities for small businesses to:
- compete
- get finance to create jobs
- grow
- innovate
- export
Here are my top 15 key points:
- For every piece of legislative brought in two pieces will be removed
- Prompt Payment
- Changes to Childcare Early Years and Child Minder Registrations
- Cheque imaging from smart phones (Presentment of Cheques)
- Banks will share data on Small Businesses with other Lenders
- Invalidating restrictive terms in business contracts to increase access to Invoice Discounting
- Company Transparency – Register of People with Significant Control
- Accelerated Strike Off
- Company filing changes
- Directors Disqualification – tougher rules
- Schools, Colleges, Higher Education to track students into the labour force
- Penalties for employers who fail to pay an Employment Tribunal award
- Penalties for non compliance with National Minimum Wage increased to 100% or upto £20,000
- Improved access to alternative finance
- Streamlined Company Registration
These are major changes that will affect us all!
steve@bicknells.net