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01 September 2017

Weekly Brief 36 – Friday 1 September 2017

A wrap of the week’s small business news from FSB’s Westminster Press, Policy and Public Affairs Office. To sign-up for Weekly Brief emails, please use this link

Big business on notice with corporate governance reform
The Government has announced new laws to force all listed companies to reveal the pay ratio between bosses and workers, as well as making big business board members report on how they are fostering relationships with suppliers. Commenting on the changes to corporate governance, Federation of Small Businesses (FSB) National Chairman Mike Cherry described that poor payment culture in the UK as an “epidemic” and said the reforms include a positive package of measures to improve the situation.

VOA maps improvements to business rates appeals platform 
The Valuation Office Agency (VOA) has published a roadmap of planned upgrades to the check, challenge, appeal platform which was launched in April as the new service for establishing fair business rates bills in England. Immediate upgrades to the appeals portal include the ability to save progress when carrying out a check, allowing users to complete it at a later date. A useful overview of future changes can be found here

Small business borrowing down 

Smaller businesses are borrowing less, according to figures released by the Bank of England. According to the figures, there was a £200 million decrease in loans to smaller businesses in July. Mike Cherry said small business appetite for new finance is “waning against a backdrop of unprecedented uncertainty, anaemic domestic growth and inflationary pressure”. You can read more here

Late payment roadshows
Members are invited to a series of free ‘ACCA Running the UK’ roadshow events across the country, providing information about late payments, the effect it has on payment and why it is an issue. The roadshows will coincide with a local running race, which Ashley Smith FCCA, FD of CADA Design Group, will take part in. You can sign up now for events held in Southampton and Hull later this month and Swansea in November.

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