Most small firms absorb the cost of wage increases

Around 7 in 10 small business owners paid themselves less to absorb increasing employee wages this April, a survey by the Federation of Small Businesses (FSB) shows. Following the national living wage increase to £8.21 in April 2019, 71% of business owners said they...

Large businesses penalised for late payments

Several large companies have been suspended from the prompt payment code for failing to pay suppliers on time, the Chartered Institute of Credit management has announced. The prompt payment code sets out a standard for payment practices, requiring businesses that sign...

3 in 4 firms support auto-enrolment extension

Most businesses would support auto-enrolment being made available to lower earners and the self-employed, research from the Confederation of British Industry (CBI) and Scottish Widows shows. In a survey of 240 businesses, nearly three-quarters (74%) said they want to...

New measures to prevent late payments

The Government has announced a set of new measures to stop late payment to small businesses, following pressure from business groups. Under the proposed rules, audit committees will be required to report payment practices in their company annual reports. Subject to...