Enterprise Act becomes law
The Enterprise Act is now on the statute book, affecting the UK’s 5.4 million businesses.
According to the Government, the Act will help it deliver on many of its commitments, from cutting red tape and tackling late payment to boosting the quality and quantity of apprenticeships.
It includes measures to:
- establish a Small Business Commissioner to help small firms resolve issues such as late payment
- include the actions of regulators in the government’s £10 billion deregulation target and increase transparency through annual reporting requirements
- extend the successful Primary Authority scheme to make it easier for businesses to access consistent, tailored and assured advice from local authorities, giving them greater confidence to invest and grow
- protect and strengthen the apprenticeship brand, introduce targets for apprenticeships in public sector bodies in England, and establish an Institute for Apprenticeships – an independent, employer-led body that will make sure apprenticeships meet the needs of business
- create a legal obligation for insurers to pay claims to businesses within a reasonable time