9 May 2012

Queen's Speech Helps Small Businesses

Following Today's Queen's Speech, the main highlights included the announcement relavant to businesses that is to cut red tape on the bureaucracy, as well as having fairer deals for the suppliers of supermarkets of which it includes diminishing regulatory barriers for businesses operations. Over the next year, small businesses in the UK can expect a reform on the Enterprise and Regulatory Bill.

The new proposals, include:

Efficiencies streamlines on the employment tribunal system, thus greatly improving its resolutions.

Further improvements on the competition regulatory affairs, as a result ensure transparency by improvements on speed and strategies for businesses.

Highlight, the case for the UK Green Investment Bank, furthermore an assurance on its independence.

Improvements on the regulation for directors’ pay with the  introduction of binding votes.

Extend the Primary Authority scheme, thus reducing inspection legal requirements for sunset clauses.

Streamline efficient clear legislation, thus helping businesses and citizens with non-ambiguous legislation.

Announcement of the Groceries Code Adjudicator Bill, which directly relates to the market dominance of the large retailers, thus an assurance that suppliers are treated fairly.

The new adjudicator (Groceries Code Adjudicator Bill) will be responsible to arbitrate disputes between retailers and suppliers.