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05 July 2019

Weekly Brief 27 - Friday 5 July 2019

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.

LATEST ADVICE & OPPORTUNITIES

FSB roundtable on business productivity, innovation and Industrial Strategy

Join us for a discussion with Nick Chism, BEIS Chief Business Advisor and stakeholders from Innovate UK, hosted by Chris McDonald, FSB's innovation policy chair, taking place on 25 July at our London offices.

Please RSVP by 19 July through the link here. Places are limited and will be offered on a first come, first served basis.

PPI claim deadline pending 

The Financial Conduct Authority (FCA) has upped its efforts to encourage people to make a claim for mis-sold Payment Protection Insurance (PPI) before its 29 August deadline. Two years ago the FCA moved to draw a line under the mis-selling scandal by setting a deadline for fresh complaints. PPI was sold on business loans as well as consumer products. Find out more here.

THE SMALL BIZ WEEK IN REVIEW

Tuesday

FSB launched its Small Business Index for the second quarter of 2019. It revealed that 72% of small firms are not planning to increase capital investment in their businesses over the coming quarter. The figure is at its highest since the second quarter of 2017.

Friday

Small businesses are incurring mammoth costs of almost £17 billion every year due to criminal activity, according to new research from FSB. Reacting to these startling statistics, FSB National Chairman Mike Cherry, said: "At a time of huge uncertainty and increasing costs, business crime is a serious issue that is devastating firms up and down the country."

FROM THE CORRIDORS OF POWER

Lords debate apprenticeships

In a debate on apprenticeships, Baroness Osamor (Labour) referenced FSB's recent apprenticeship report, Fit for the Future, calling on the Government to reduce the administrative burden on small businesses. Baroness Nye (Labour) mentioned FSB as having called for the apprenticeship minimum wage to be increased in a phased way to make it a more viable career option for young people. Lord Norton (Conservative) spoke about the HE Commission's recommendation that HE institutions already delivering degree apprenticeships to big businesses should extend their offer to small firms. Lord Aberdare (Crossbench) spoke about supporting small businesses to offer more work experience placements.

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