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