Today is one of two days during the year in which the government announces changes to the regulatory environment affecting entrepreneurs and small businesses.

Around 50 changes are being implemented today including efforts to reduce the administrative burden on British businesses. Most are tiny technical changes that won’t impact your business, but there are several you should know about.

Below is rundown of the most important changes:

•    The minimum wage for workers aged 22 and over will increase from £5.52 to £5.73. The rate for 18-21 year olds will rise from £4.60 to £4.77, while 16 and 17 year olds will see an increase from £3.40 to £3.53 per hour.

•    A requirement for all tobacco products to carry graphic picture warnings to illustrate the devastating effects that tobacco can have on health.

•    Further provisions of the Companies Act 2006 which improve company law and reduce burdens on companies. For example: changes will crackdown on company name "squatters" - businesses that find their trading names have been registered at Companies House as company names by so-called squatters can now challenge for ownership of the name.

•    The final parts of the Consumer Credit Act 2006, which protects consumers and puts in place a more level playing field for businesses in the credit market. For example: lenders will have to provide consumers with better information about their debts (such as loans, credit cards or store cards).

•    Removing rules that require physical copies of Employers' Liability Compulsory Insurance certificates to be displayed and retained for 40 years. Businesses will now be able to do this electronically.

•    All estate agents will be required to join a redress scheme. The scheme will be transparent and independent. It will resolve complaints and will have the power to award compensation to consumers.

•    "Doorstep selling" regulations will protect people when they buy products and services from traders at home. The new rules give people a legal right of seven days in which they can change their mind. Previously, people only had these cancellation rights if a trader's visit was not pre-arranged.

•    Measures to further tighten UK strategic export controls - including stricter controls for trading in cluster munitions, and extending controls for small arms and Man Portable Air Defence Systems (MANPADS) so that they apply to UK citizens anywhere in the world.

The key government Departments which introduce business regulations on the 6 April and 1 October are BERR, DEFRA, Communities and Local Government, Home Office, HSE and Food Standards Agency. The new regulations can be found at http://www.businesslink.gov.uk/ccd

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By LaunchLab.co.uk  on   Oct 01,2008

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Keywords

wages    money    consumers    smoking    credit    estate agents    export   

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