Business
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APRIL 2018 | 45
Business
GDPR AWARENESS WORKSHOP
On 25th May 2018 , the new General Data Protection Regulation ( GDPR ) becomes law and it will affect practically every business in the UK .
This is a new set of rules governing how companies can gather and use personal data such as names , email addresses , credit card details and more .
It is important for consumer-facing businesses to understand the impact these reforms will have on their operations , as failure to comply could result in significant fines .
To help GGF members prepare for this incoming legislation , the GGF is running a one-day GDPR Awareness Workshop this April aimed at helping consumer-facing businesses fully understand their data protection obligations .
The GGF has partnered with Cybercrowd - specialists in information , cyber security and data protection - to run this special one-day GDPR workshop this April in Solihull .
The workshop has been designed to help companies get up to speed with GDPR and what changes they ’ ll need to make to ensure compliance .
The agenda will include a general background to GDPR and sections on accountability , legal requirements , the significance of all aspects of data processing , and what to do if you get a subject access request .
www . ggf . org . uk
SPRING STATEMENT SHOULD SIGNAL END OF UNFAIR PAYMENT
The Chancellor ’ s announcement of a new consultation on late payment should be the beginning of the end for unfair payment practices which hit small businesses across the UK , the Federation of Master Builders ( FMB ) has said in response to the Chancellor ’ s Spring Statement .
Commenting on the Spring Statement 2018 , Brian Berry Chief Executive of the FMB said : “ The Chancellor ’ s announcement of a consultation to tackle the scourge of late payment today should mark a turning point on this issue . We should use this opportunity to bring about a spring clean of payment practices which negatively impact on small business . Construction giant Carillion ’ s collapse at the start of the year brought to light once again the need to eliminate poor payment practises that plague the construction sector particularly . Indeed , one London based small building firm was
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additional £ 80 million funding
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once paid more than 270 days late by a construction giant . Now is the time to move away from these unsustainable business models which threaten the existence of many firms and their supply chains . This announcement today should be followed by a fundamental rethink ending in the permanent abolition of late payment terms and the exploitative use of retention payments .”
Berry concluded : “ At first glance the Spring Statement has brought
some other positive announcements for the UK ’ s small construction firms . The announcement of a doubling of funding to the Lloyd ’ s Housing Growth Partnership and an additional £ 80 million funding to support SME firms looking to engage an apprentice is welcome news . With Brexit looming large on the horizon and the construction industry facing a chronic skills crisis , it ’ s of the utmost importance that more skilled workers begin to join the sector . An additional £ 50 million to support T level training will further aid this aim .”
www . fmb . org . uk
CBI Survey reveals manufacturing growth , but businesses missing investment opportunity
According to the latest Confederation of British Industry ’ s ( CBI ) Industrial Trends Survey , the UK manufacturing industry is experiencing sustained growth , with 21 percent of firms reporting a quarterly increase .
Uncertainty around Brexit is affecting the UK manufacturing sector , as businesses invested £ 7.7bn less on new factories and equipment in the year following the referendum – according to analysis by the Bank of England . [ 1 ] Despite this , the manufacturing sector must become a priority area for digital innovations that will help UK businesses to boost productivity and fuel economic growth , says systems integrator World Wide Technology ( WWT ).
Barclays Corporate Banking ’ s research found 27 % of businesses investing in innovations such as the internet of things machine learning and big data found return on their investment .[ 2 ] But many manufacturers are still reluctant to invest in smart technology for their factories , despite 51 % reporting a positive impact on productivity . This reticence could cost manufacturers £ 102bn a year in lost revenue . [ 3 ]
www . wwt . com
[ 1 ] https :// www . thetimes . co . uk / article / brexit-wiped-out-7-7bn-ofbusiness-investment-says-bank-of-england-9h56fgpjs
[ 2 ] http :// www . computerweekly . com / news / 450430122 / Manufacturers-need-to-step-up-smart-tech-investments
[ 3 ] http :// www . computerweekly . com / news / 450430122 / Manufacturers-need-to-step-up-smart-tech-investments