30 July 2024
NHBF announces quarterly State of the Industry survey results
The latest National Hair & Beauty Federation quarterly survey results show that the sector recovery has been slow and steady over the last 18 months. Sector businesses are still battling through the challenging economic climate including responding to significant wage rate rises between 10-20% in April 2024.
Slightly fewer businesses are making a profit, and reduced numbers are expecting turnover to increase. Debt and reliance on external support remain high but survival prospects are more positive and growth intentions remain stable.
Skills England: New National Body to Overhaul 'Fragmented' Skills System
Richard Pennycook, a Department for Education non-executive director and former Co-operative Group chief, has been appointed as interim chair of Skills England. This new national body aims to address the "fragmented and broken" skills system in the UK.
Pennycook will lead the establishment of Skills England while the government works to appoint a permanent board, chair, and CEO in the coming months. This development follows the recent King's Speech, which announced legislation (laws) to transfer functions from the current Institute for Apprenticeships and Technical Education (IfATE) to the new skills body.
Nomination closes this Friday: The NHBF Top 100 Influencer Index Award
The NHBF Top 100 Influencer Index Award Ceremony is back for its fourth year, and nominations are now open!
We're looking for individuals who make a difference in the hair and beauty industry, inspire others, and have a positive impact on social media.
Do you know someone who fits the bill? Nominate them (you can nominate yourself too!) for the Top 100 Influencer Index and let their brilliance be recognised!
Ready to nominate? It’s quick and easy! Click here.
Telecoms: New consumer protection rules announced
Customers must be told upfront in pounds and pence about any price rises their provider includes in their contract, under new consumer protection rules announced by the communications regulator Ofcom. In recent years, many major UK phone, broadband, and pay TV companies have changed their contract terms to include price rises linked to future inflation rates. Ofcom said this leaves customers without sufficient certainty and clarity about the prices they will pay, and unfairly assumes the risk and burden of financial uncertainty from inflation, which people cannot predict and do not understand well. The regulator has now decided to ban this practice.
Low Pay Commission Remit
Jonathan Reynolds, Secretary of State for the Department for Business and Trade, stated that the government is committed to making work pay and has updated the remit of the Low Pay Commission (LPC) to consider the cost of living for the first time.
The LPC, which sets minimum wage rates based on the government's advice, has been asked to consider the cost of living along with business competitiveness, the labour market, and the wider economy. The government aims to achieve a genuine living wage and remove discriminatory age bands, working towards a single adult rate for all workers, including those aged 18-20, by April 2025.
The remit also maintains recommendations for wage rates for younger workers and apprentices and requests the LPC to report back by October for wage increases in April 2025. The LPC's research on the impact of minimum wage policies, especially on low-paid workers with protected characteristics, will continue and expand. This year marks the 25th anniversary of the UK's minimum wage, and the government seeks to build on its success by addressing age-based disparities and ensuring work pays fairly for all.