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Figures released by the Asset Based Finance Association (ABFA) have revealed that small businesses are forced to wait longer than large businesses to receive payment. Businesses with turnovers of less than £1m wait an average of 71 days for payment. That is 23 days more than businesses with turnovers of £500m and above, who wait
A dentist who was evicted for being late with his rent has won a legal dispute with his landlord. The court ruled that the late payments did not amount to a repudiatory breach of contract and so the eviction was not justified. The dentist had a contract with the NHS which paid him on a
A public company has been ordered to pay a consultant a commission fee, despite there being no evidence that he contributed to the success of a special business project. In January 2013, one of the company’s shareholders had publicly criticised the board and ordered a meeting with the intention of ousting the chairman. The company
A care home company has successfully stopped one of its former franchisees setting up a rival business and competing for the same clients. The case involved a company that operated several franchises. It also managed various care home branches of its own. One particular franchisee felt that he wasn’t being given enough support by the
A new programme has been launched that will make it easier for UK businesses to apply for patents in China. The pilot Patent Prosecution Highway (PPH) programme will streamline patent applications between the UK Intellectual Property Office (IPO) and their counterparts in China. It means that a business that has obtained a patent in the
The administrative burden on small businesses involved in takeovers could be eased by the latest changes to the Transfer of Undertakings (Protection of Employment) Regulations 2006 (TUPE). TUPE regulations are designed to protect the interests of employees if their company is sold to new owners. The regulations come into effect on 31 July to allow
A new Bill to help small businesses is being introduced by the government. The Small Business, Enterprise and Employment Bill contains several measures designed to make it easier for small firms to thrive. They include: • Strengthening the rules on director disqualifications and measures to help creditors recoup losses resulting from director misconduct. • Assisting
Exclusivity clauses in zero hours contracts are to be banned so that employees can no longer be tied to a company that may not have any work to offer them. Some firms, including recruitment agencies, have been using exclusivity clauses to prevent an individual from working for another employer, even if the firm has nothing
When setting up a business venture involving two or more people it is essential to have a written agreement so that everyone understands their responsibilities and entitlements. Failure to do so can lead to confusion and the need for legal action, as illustrated in a recent case before the High Court. It involved three people
The problems small firms face with late payments from larger businesses is being tackled in a new set of guidelines put forward by the government. Hundreds of large firms have signed the Prompt Payment Code but many of them don’t always meet the standards required. Overdue invoices have been identified as one of the major