The Enterprise Bill 2016 – Facts & Figures
- Date: Monday 9th May 2016
You may have heard on the news last week that the Enterprise Bill received Royal assent and includes new initiatives regarding apprenticeships, small businesses and deregulation.
Here is a quick summary for those you who have not yet been able to receive an update through the general media:
Creation of Small Business Commissioner
There is a recognition that small businesses can struggle in their commercial dealings with larger firms. Under the Act, a statutory Small Business Commissioner will enable small businesses to resolve disputes and avoid future issues through general advice and information (for example in relations to bad payment terms or late payment).
Further work on De-regulation
In order to provide a wider focus for the government to reduce regulatory burdens on businesses, ensure that there is even greater transparency around the impact of regulation on business and enable regulators to contribute to the government’s deregulation target of £10bn. The Act also provides greater incentives for regulators to design and deliver policies that meet the needs of the business.
Protection and promotion of Apprenticeships
The term ‘Apprenticeship’ is now protected and can only be used by an approved scheme provider.
An apprenticeship levy will be introduced in 2017 for organisations with a wage bill in excess of £3M.
There will be a push over the next 15 months for the public sector to ramp up on apprenticeships and steep targets have been set for larger employers.
If you believe that you could be affected by the Enterprise Act 2016, you can read on by visiting www.gov.uk. Alternatively, please contact your HR helpline for guidance.
Source: Manuela Grossmann