NHBF Business Update –Tuesday 27 February 2024

SME Council membership revealed ahead of first meeting

New Small Business Council meets for first time to discuss access to finance and removing barriers to growth

The membership of the new Small Business Council has been unveiled as the Government reaffirms its commitment to the UK's 5.6 million SMEs.

Chaired by Small Business Minister, Kevin Hollinrake, the Council will work alongside the PM's Business Council to tackle the key issues facing small firms who will be given new levels of access direct to government.

Almost every business in the country is a small business (99.9%) who in turn support 27 million jobs across the UK, accounting for £4.5 trillion of annual turnover. Almost every billion-pound company, tech giant or multinational corporation started off as small business, which is why this Council has been formed, to help support and nurture the next generation of small firms to thrive and grow.

The Council will include small business organisations such as Small Business Britain, the Federation of Small Businesses and Family Business UK, as well as NHBF Member, Richard Marshall.

Read the full press release here.

The National Minimum Wage for salon & barbershop owners

As of 1 April 2024, the national minimum wage rate will be changing. It is important to understand the rates of the National Living Wage (NLW) and National Minimum Wage (NMW), and to know what apprentices should be paid. Additionally, you can find help and advice from the NHBF for your salon or barbershop. Read our updated blog here.

Sustainable hairdressing one day in-person course

Carole Taylor has collaborated with Anne Veck to offer a course that will help salon owners and hairdressers succeed in the business environment of sustainability and climate change. The course is aimed at salon owners, freelancers, and hairdressers who want to achieve success through sustainability.  The course initially in central London, with limited places available, so don't miss out! Register your interest by submitting the brief form below, and they? will get back to you to confirm the date and venue.

2G/3G Switch Off

Mobile network operators will start to gradually shut down their 3G networks from early this year. This could affect customers who use older mobile devices and services, as well as other devices like payment terminals, security alarms, and care alarms. If you are unsure if your device will be impacted, we advise you to check with your service provider or device supplier. After the 3G network shutdown is complete, mobile operators will start to turn off their 2G networks. Find out more here.

Low Pay Commission UK Visits 2024

The Low Pay Commission (LPC) is an independent statutory Non-Departmental Public Body set up under the National Minimum Wage Act 1998 to advise the Government on the National Minimum Wage (NMW).

They are on the lookout for companies that might be interested in speaking to the commissioners about the impact of minimum wages on their business.  From 1 April 2024, the minimum wage will be increased to £11.44 for those over 21-year-olds which is nearly a 10% increase from last year.  There are also adjustments for other age groups as shown in the link here.

How will the latest announcement affect your business planning?  How would you respond to the rising NMW?  LPC is also interested in talking to companies that are trying to raise their productivity, to showcase their learning journeys in their communication platforms.  The oral evidence given by the companies will be collated along with the research statistics for LPC to make their yearly recommendations to the government about the minimum wage.

If you would like to speak to the LPC Commissioners and bring up issues pertinent to your sector, please refer to the table of visits below and contact Rosina Robson for the NHBF.

Visits Schedule