The government is looking at ways to ensure that large businesses pay their suppliers on time. The Prompt Payment Code (PPC) was set up in 2008 to encourage companies to pay invoices within the agreed timescale. However, the PPC has been widely criticised for being ineffective. Recent research by YouGov revealed that 85% of small
Running a business is never easy and the economic downturn of the last few years has only added to the difficulties. The pressures of making vital decisions in such trying times can often put a strain on the relationship of company directors and business owners. The danger is that businesses can begin to struggle when
The term director is often applied to people running a company even though they aren’t officially listed as directors. This can lead to confusion because genuine directors have specific duties in law which do not necessarily apply to employees acting in a managerial role. It is possible for managers to be seen as de facto
A pharmaceutical company has failed to prevent two former employees setting up their own firm and competing for business from one of its main customers, the NHS. The issue arose when the company considered selling adrenaline pens but then decided not to go ahead. Two of its employees thought there was a market for the
The government is set to increase fines for employers who fail to pay their employees the National Minimum Wage (NMW). Currently businesses can be ordered to reimburse workers who have received less than the minimum wage. They can also be fined 50% of the total amount of underpayment for all their employees, up to a
Small and medium-sized enterprises (SME) in the UK are failing to invoice their clients for up to £3.7billion a year, according to recent research. Even though businesses are battling through a difficult economic climate, 20% admit they have forgotten to invoice for work on at least one occasion. Of the 450 SMEs surveyed, 6% admitted
Councils have been given £4m to help tackle the problem of rogue landlords. The funds will be used to target landlords that force their tenants to live in squalid or overcrowded properties, and to penalise those that do not keep their properties maintained to the necessary standards. Housing Minister Kris Hopkins said: “The majority of
Mr Cameron said that many firms have been bogged down by minor regulations and legislation, preventing them from using their time and money more efficiently to expand. The Prime Minister was speaking at a Federation of Small Businesses (FSB) conference. He said: “”We need to be a country that celebrates enterprise and backs risk takers.”