Enterprise Act - Good news for small businesses
The Enterprise Act came into force on 4 May 2016. The Act deals with a range of Government commitments intended to support the growth of enterprise, including Sunday working and late payment of insurance claims.
Of particular interest are the provisions relating to the establishment of a Small Business Commissioner. The Commissioner’s principal functions are:
- To provide general advice and information to small businesses; and
- To consider complaints from small businesses relating to payment matters in connection with the supply of goods and services to larger businesses, and make recommendations.
The Complaints Scheme
Certain complaints, including those relating to the adequacy of the sums payable or those with are subject to legal proceedings, will not be considered by the Commissioner. In cases that are eligible, the Commissioner will make recommendations based on contract law and any relevant statutory legislation, such as the Late Payment of Commercial Debts (Interest) Act 1998. The recommendations will not be legally binding but the Commissioner will have the power to name and shame the larger business.
Posted on 06/01/2016 by Ortolan