16 May 2023
NHBF AGM 2023 – book your place today!
Our 81st annual general meeting will be held on Sunday 23 July 2023, at the Holiday Inn Regent's Park, Carburton Street, London W1W 5EE. The meeting will start at 1.00pm
Members are welcome to attend the AGM – please notify enquiries@nhbf.co.uk if you wish to attend. Only Members will be admitted.
Items on the agenda include:
- Installation of board members.
- Receiving the NHBF's annual report & accounts for the year ending 31 December 2022.
- Appointment of auditors.
- Any other decision requiring Members' approval.
If you have an item of business that needs Members' approval at the AGM, you must send it to enquiries @ nhbf.co.uk by 5pm Tuesday 13 June 2023.
New item in the shop: Fixed Term Maternity Cover contract template
We are delighted that we have added a new product to our shop - the Fixed Term Maternity Cover contract template. This product is exclusively available to our Members and has been created to help employers who need to hire someone for maternity leave coverage. The contract template is designed for fixed-term employment only and can be downloaded by Members.
As a Member, you can easily access the Fixed Term Maternity Cover contract template by logging in to your Members section of our website. This product is just one of the many resources we provide to support our Members in their HR and employment requirements.
Raising standards and funding for apprenticeships in the hairdressing and barbering industries
The Hairdressing Professional and Barbering Apprenticeship Standards at level 2 have finally been approved by the Secretary of State for Education for delivery by the Institute for apprenticeships and technical education, with a substantial increase in the funding band, which will help restore apprenticeships.
The original hair professional standard, which covered both hairdressing and barbering as optional pathways, this standard has now been split into two apprenticeship standards:
The Hairdressing Professional at Level 2 has been given a revised funding (band 14) of £11,000, an increase of £4,000 per apprentice, and the Barbering Professional at Level 2 has been given a revised funding (band 12) of £9,000, an increase of £2,000 per apprentice (FOR ENGLAND ONLY).
Read the full press release here
Bank of England raises UK interest rates to the highest level since 2008
In an effort to continue fighting the UK's high inflation, the Bank of England increased interest rates to their highest level since late 2008.
Financial markets broadly expected the bank's Monetary Policy Committee's decision to increase its main interest rate by a quarter of a percentage point to 4.5%.
High-interest rates can have positive and negative implications for salon and barbershop business owners. High-interest rates mean that borrowing money becomes more expensive. Salon and barbershop owners who rely on loans or credit lines to finance their business operations may face higher interest payments. Business owners with existing loans or debts may face increased interest payments, which can strain cash flow. Those businesses that have savings could see a slight increase in their savings from higher interest rates.
Want To know why Cashflow is Important? Read our blog on Cash flow confidence for your salon or barbershop.
Regulation unveiled to cut red tape for British businesses
The first package of deregulatory reforms to grow the economy, cut costs for businesses and support consumers has been unveiled by the Government.
The Government aims to remove unnecessary red tape and regulatory burdens, ensuring rules and regulation for British businesses is proportionate and takes into consideration wider impacts on consumers, innovation and competition – as well as direct costs.
The package is the first of a series of deregulation announcements expected this year and is focused on delivering benefits to business. The reduced reporting requirements could save employers over £1 billion per year.
The package includes:
Reducing the business burden. The Government will reduce time-consuming and disproportionate reporting requirements for specific elements of the Working Time Regulations, while retaining the 48-hour week requirement and upholding the UK’s world leading employment standards. This could save employers around £1bn a year. The Government is also simplifying regulations that apply when a business transfers to a new owner.
Ensuring regulation is, by default, the last rather than first response of Government by reforming the Better Regulation Framework. The new, smarter framework will ensure future regulation of our changing economy is streamlined, minimises business burdens, and puts forward-looking regulation at the heart of Government decisions.