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Enterprise Act becomes law

09 May 2016

The government is hoping the Enterprise Act will help deliver growth and security for the UK’s SMEs.

Among the measures included is the establishment of a Small Business Commissioner to help small firms resolve issues such as late payment.

The act also prevents the misuse of the term ‘apprenticeship’. It is now an offence for a person, in the course of business, to provide or offer a course or training as an apprenticeship if it is not a statutory apprenticeship. An independent employer-led body, the Institute for Apprenticeships, has also been established to make sure apprenticeships meet the needs of business.

The late payment of insurance claims is also addressed. Claims must now be paid within a reasonable time.

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