Nine out of ten small employers concerned about new legislation
The King’s Speech detailed proposals for a number of areas of new legislation that are likely to affect small employers.
The Federation of Small Businesses (FSB) subsequently reported that nine-in-ten employers surveyed by them had said they have concerns that the costs and risks associated with employing people would be increasing.
The FSB also noted that there was no legislation announced to tackle the poor payment practices of big businesses toward their small suppliers. FSB Policy Chair Tina McKenzie said late payment “hampers cashflow and stifles investment, and we call on the Government to look again.”
See: https://www.fsb.org.uk/resources-page/fsb-weekly-brief-newsletter-friday-19-july-2024.html
A new report has concluded that late payments and rising costs are crippling Britain’s construction sector. Firms already in or at risk of financial distress make up more than eight in ten companies.
Companies House will introduce changes to accounts filing due to governmental reforms under the Economic Crime and Corporate Transparency Act 2023 (ECCT Act 2023).