FSB CALLS FOR IMPROVED EU LAW
The Federation of Small Businesses (FSB) is calling on the government to support plans for a Europe-wide law that small firms can use when drawing up contracts within the EU. According to the FSB, the government’s hopes for an export-led recovery will falter unless it changes its contradictory position on complex contract law for small firms doing business in Europe. The government is currently encouraging business expansion into the European single market, with figures showing that if all barriers to trade within the EU were withdrawn, UK GDP would increase by more than seven per cent.
THE RISE OF THE TEENPRENEUR
With jobs hard to come by and with four out of 10 teens hoping to start a business when they are older now is the time to start encouraging entrepreneurship. Well, at least that’s what the Teen Business Forum has decided. It hopes to give young business minds from across the globe the opportunity to gain insight and inspiration from successful entrepreneurs by hosting a Teen Business Summit online. It is completely free of charge and can be found at www.teenbusinesssummit.com. The summit will be held on 22-24 August, bringing together entrepreneurs from countries including the USA, United Kingdom, Ireland, Nigeria and Australia.
JUSTICE BILL HARD ON SMALL BUSINESS
The government was warned that reforms to “no win, no fee” deals from the Ministry of Justice this week will seriously undermine small businesses already facing tough economic conditions. As a result of this week’s Justice Bill, which implements the much-criticised recommendations of Lord Justice Jackson’s review of civil justice, it will be harder for businesses to enforce their legal rights in courts. Des Hudson of the Law Society says: “Cash-strapped business and new entrepreneurs can’t afford to stand up for their rights and lose up to 25 per cent of compensation in the process. That’s what ministers have proposed this week.”