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news opinion
Danger – slow traffic ahead. Prepare to slow down
There were signs, as we closed for press, that after what many business people reported was a vibrant Q1, companies started to take their foot off the gas in April as the General Election loomed.
By the time you read this, the Election will have happened – and presumably a political party, or perhaps a coalition of parties, will be running the country.
We won’t try and second- guess what the outcome might be, but we do know that – after uncertainty over both the Scottish referendum and the UK election – the last thing that business wants is another poll.
Stability is the key ingredient to get business confidence growing again. Whoever is in power should make that a priority – but of course if there is any sense of a referendum on our membership of the European Union, the turmoil will continue.
Already there is evidence of US companies holding back on investment into the UK until they know whether we will be in the single market, or outside it.
Gender pay regulations – comply or face the fines
More than 200 Hampshire businesses* will need to comply with new gender gap pay reporting or risk fines of up to £5,000, warns solicitors Moore Blatch.
Regulations which are expected to be in force within 12 months will require the 210 Hampshire- based businesses that employ over 250 people (25 of them based in Southampton) to publish information relating to their gender pay gap in a bid to increase transparency.
Although the power to compel companies to produce this information has been available since the Equality Act 2010 came into force, no regulations had been put in place in order for it to be implemented with gender pay reporting being voluntary.
Under the new regulations, employers will be required to publish the difference between the basic average pay and the average pay for both male and female employees on an annual basis.
It is expected that they will also need to provide information relating to the difference between male and female employees working on a part-time or full-time basis as well as other elements, such as bonuses.
Katherine Maxwell of Moore Blatch said: “Failure to comply with the new gender reporting requirements could result in fines of up to £5,000 so we would
Superfast broadband grants available for SMEs in Dorset
Small and medium-sized enterprises (SMEs) in the Dorset Local Enterprise Partnership (LEP) area are being encouraged by Bournemouth Council to apply for grants to get connected to superfast broadband. This is as part of a scheme announced in the chancellor’s Budget.
If the possibility of an EU
exit grows after the General Election, more multinational corporations might look at Britain as a risky location.
For the first few weeks of the election campaign, the EU seemed to hardly figure in the debate – UKIP’s arguments notwithstanding – which was surprising given its importance. But as we will find out, Brussels won’t go away ...
David Murray Publisher
www.businessmag.co.uk
Bournemouth has been named a Super Connected City in the Government’s latest programme of Broadband Connection Vouchers, and businesses are now eligible for vouchers of up to £3,000 per
business on a first-come first- served basis.
Councillor Mike Greene, cabinet member for corporate policy and implementation, said: “The landmark Tech Nation report, the largest-ever study of the UK’s digital sector, found that the digital economy in Bournemouth is booming. Bournemouth is now the fastest-growing tech city in the country and a great place to do business.
“We are very keen for local businesses to take advantage of
@TheBusinessMag Business THE M A GA ZINE TM
recommend that local businesses use these next 12 months to gather and review their data and policies to ensure that they are fully prepared to comply with the new measures and, if necessary, obtain legal advice.“
* ONS 2013, UK number of VAT and PAYE enterprises in 2013, districts, counties and unitary authorities within region and country by employment size band – Table B1.2.
these broadband grants as soon as they are able to do so. As a location with a large number of IT supply businesses, we are also promoting the opportunity to local suppliers to encourage them to sign up to the scheme as a supplier.“
Dorset County Council is administering the Broadband Vouchers Scheme on behalf of Bournemouth Borough Council, alongside its current Superfast Dorset programme.
SMEs in the Dorset LEP area are eligible to apply.
Details:
www.connectionvouchers.co.uk bournemouth.gov.uk
In the June 2015 issue of The Business Magazine
• Corporate Finance • Legal Focus • Focus on Portsmouth
Details: 0118-9766410
sales@elcot.co.uk
THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – MAY 2015
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