Government announces plan to tackle late payment following FSB campaigning
The Government has acted on FSB’s recommendations by committing to introduce new measures to tackle late payments. The crackdown was announced on Thursday, at a high-profile launch event co-chaired by FSB Policy Chair Tina McKenzie and Business Secretary Jonathan Reynolds, with Small Business Minister Gareth Thomas also in attendance. The measures feature proposals to require payment practices to be included in annual reports, and consulting on new legislation on audit requirements for large firms and audit committee responsibilities in this area. A new, beefed-up, Fair Payment Code will replace the Prompt Payment Code in autumn. FSB Policy Chair Tina McKenzie said: “This is what real change looks like – the Business Secretary has clearly recognised the importance of eradicating bad payment culture.” The announcement was covered by a number of national media outlets, including BBC Breakfast.
FSB represents its members at Liberal Democrat Conference
FSB represented the UK’s small businesses and self-employed at the Liberal Democrat Party Conference in Brighton this week. FSB’s national chair, Martin McTague, was invited to deliver the Business Day keynote address, where he spoke about the future of high streets as well as the importance of access to finance. He also met with Treasury and Industrial Strategy Spokesperson, Liberal Democrats, Sarah Olney, and Liberal Democrat MP Chris Coghlan, among others.
New digital music licence for businesses
The Performing Rights Society for Music (PRS) has launched a new Digital Music Licence for Businesses, following a consultation last year. Any business that uses licenced music in any capacity is legally required to have a PRS licence, and the new digital licence is designed for businesses that specifically use music in a digital or online capacity where it isn’t the primary focus of the business, including in presentations and online conferences. It replaces the Limited Online Music Scheme licence which will be phased out by the end of 2024.
EU labelling laws postponed indefinitely
The Government has indefinitely postponed plans that would have forced small firms to put “not for EU” labels on all meat and dairy products sold in Great Britain from October. The policy was devised under the previous, Conservative government, and the current Labour government has now agreed to review it. The measure is designed to prevent goods from bypassing EU controls by being sent to the Republic of Ireland, which does not have a hard border with custom checks on goods coming from Northern Ireland. More information on food packaging and labelling can be found on the gov.uk website.
New product safety regulations for exporters to the EU
New General Product Safety Regulations for businesses that export products to the EU will come into effect from 13 December 2024. These regulations will affect small businesses across many sectors, including manufacturing and retail, and will apply to new and existing products. They include requirements for businesses to have a designated, named contact for product safety and for products to be easily traceable for consumers. Some business that export to EU countries may find that they already meet these requirements. Small firms that are being impacted by the changes in product safety regulations are encouraged to contact FSB’s international affairs team with their experiences.
Help with Export Finance
Small businesses are invited to learn more about the UK Export Finance (UKEF) programme, at a webinar on 1 October 2024. This will be relevant to businesses across a range of sectors, with UKEF giving a practical overview of how export finance products and services can help both established and aspiring exporters to grow their business overseas and make importing easier for international buyers.
Parliament celebrates 50 years of FSB
The Federation of Small Businesses’ 50-year anniversary, in September, was marked by Secretary of State Jonathan Reynolds in Parliament, who said: “I’d like to extend a happy birthday wish to the Federation of Small Businesses who do a fantastic job of bringing the voice of small business right to the heart of Government.” This was followed by the Scottish Parliament staging a debate, also to celebrate the 50th anniversary of FSB. The Members’ Business debate, requested by Audrey Nicoll MSP, attracted cross-party support. Scotland Business Minister Richard Lochhead praised FSB’s work in helping the Scottish Government develop more robust assessments of the impact of new regulations on small businesses.
Does your business need to pay the ICO data protection fee?
Any business that electronically handles people’s personal information, such as names and addresses, must register with the Information Commissioner’s Office (ICO) and pay the annual data protection fee, unless the organisation has qualified for an exemption. The fee helps to fund the work of the ICO, and the amount is based on an organisation’s nature, size, and turnover. Currently, for any organisations with 10 or fewer employees the fee is £40 per year. Failing to pay the fee or register for an exemption could result in a £4,000 fine. More information is available on the ICO’s website.
Increased retail sales must be followed up with proper support from Government
ONS statistics released this week, unveiled retail sales increased by one per cent in August, spurred on by strong food and clothing sales. FSB’s latest Small Business Index showed that confidence levels in the retail sector are one of lowest among the main sectors, which could highlight wariness of consumer spending in the coming months as well as pressure from business rates bills, and rising costs. FBS’s recent campaign, The Future of the High Street, sets out proposals to reinvigorate the high street and improve life for retailers and other small firms based in and around town centres. These include encouraging pop-ups, improving the Small Business Rates Relief package, providing good public transport, creating a welcoming approach to parking, and ensuring clean, modern public toilets.
Interested in hosting a T Level placement?
Small employers who want to find out more about T Level industry placements can register for a series of online and in person events being held by the Department for Education and Strategic Development Network. Each session will look at the Government support available and hear from employers who are already hosting placements on how it works for their business.
New Cabinet is an opportunity to for new chapter for the Welsh economy
Wales’s new first minister, Eluned Morgan, undertook a cabinet reshuffle ahead of the Senedd’s return this week. Rebecca Evans MS was appointed as the Cabinet Secretary for Economy, Energy and Planning. FSB urged the Welsh Government to use the return and reshuffle as an opportunity to start a new chapter for the Welsh economy, with a clear mission to achieve economic growth and make a commitment to working in partnership with small businesses to this end. FSB Wales said it will continue to work closely with the Welsh Government to create the right conditions for small businesses to flourish.
National Fitness Day
This year’s National Fitness Day took place on 18 September. Supported by FSB, this annual campaign by ukactive emphasises the role physical activity plays in the UK, helping to raise awareness of its importance in leading healthier lifestyles. From increasing footfall in gyms and leisure facilities, uniting teams and improving workplace productivity, taking part in National Fitness Day can benefit a whole range of organisations.
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