FOR IMMEDIATE RELEASE
Today sees the introduction of two much-needed reforms to the Consumer Rights Act and the insolvency process that should encourage trade after short-term disruption. The ruling by the EU on whether the US is a ‘safe harbour’ for UK data is however a different matter.
The Forum believes the changes to the Consumer Rights Act will have the least effect on its members: “Our members see customer service as being their key competitive advantage over larger companies. While the changes may take a while to bed in, we expect the result will be to encourage consumer confidence,” claims Ian Cass, MD at the Forum.
“The changes to the insolvency process are long overdue but there is a risk that the creditors of an insolvent company will be inundated with information that they do not initially know how to deal with,” explains Mike Gillard, insolvency practitioner at Mackenzie Goldberg Johnson.
“This issue can be dealt with relatively easily by calling an insolvency practitioner like Mike and they will be able to take you through any report you are sent,” says Mr Cass.
The ‘safe harbour’ issue is far more complex and an adverse judgement may even put certain business models at risk. The implications will however depend on the precise wording of the judgement.
“As ever, we aim to help our members through these changes but it is not hard to see why a number of our members may have to change the way they trade at a time when they are looking to grow,” concludes Mr Cass.
Notes to editors
Representing thousands of small businesses across the UK – including retail, service providers and manufacturing companies – the Forum is recognised by the Government as one of the six main business support and lobby groups. It uses this position to influence decision-makers in the UK and Brussels on the issues that matter to small businesses.
Broadcast media – the Forum has ISDN capability and can provide comment, in quality audio, at short notice. The Forum can also provide journalists with localised and sector-specific case studies.
Twitter account - http://twitter.com/the_fpb
Forum blog - http://blog.fpb.org
About the Forum of Private Business:
The Forum of Private Business is a proactive business support organisation focused on the growth and profitability of small businesses.
Media contact for this press release
Tel: 01565 626015
Mobile: 07885 888085
Relevant Trade Associations for Insolvency changes are:
IPA - http://www.insolvency-practitioners.org.uk/
R3 - https://www.r3.org.uk/
The ICEAW also has a membership search that can be used to look for licensed practitioners: http://membersearch.icaew.com/
Tel: 01565 626023
02 Nov 2017 14:00
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