01827 68939
info@shireleasing.co.uk
lockShire Online - Login
Twitter
LinkedIn
Shire Leasing logoShire Leasing white logo
  • About Us
    • History, Vision & Values
    • Meet the Team
    • Affiliations
    • Corporate Social Responsibility
    • Stakeholders (Section 172 Statement)
    • Career Opportunities
  • Supplier Finance
    • Services and Technology
    • Industry Specialisms
    • Training (Lead with Lease)
    • Case Studies & Testimonials
    • Supplier Support Portal
  • Customer Finance
    • Types and Solutions
    • Vehicle Finance
      • Vehicle Solutions (existing customers)
      • Bath Clean Air Zone Financial Assistance
    • What Can Be Financed?
      • Catering Equipment Leasing & Finance
      • Gym Equipment Leasing & Finance
      • IT Equipment Leasing & Finance
      • Printing Equipment Leasing & Finance
      • Security Equipment Leasing & Finance
      • Finance For Farms
    • New Business Equipment Financing
    • Coronavirus Business Interruption Loan Scheme (CBILS)
    • Shire Members’ Club
    • Make a Payment
    • Testimonials / Case Studies
  • Blog
  • Resources & Guides
    • FAQs
    • Industry Terminology
  • Contact Us
SME graphic

Short to Medium-Term Impacts of the SBEE on SMEs

03 SepSharon PriceBusiness Advice

Becoming law on the 26th March 2015, the Small Business, Employment & Enterprise Act (SBEE) has been designed to pave the way for the UK to become the “best place in the world to start and grow a business”.

Addressing 11 major business areas, this detailed legislation is having a significant impact on the UK’s SMEs and, within this blog, we focus on three areas we feel are contributing most heavily to such impact.

Red Tape

With a deluge of historical measures to reduce the barriers to successful SME set-up and management, there has been a particular impetus to remove excessive bureaucracy. Specific examples include the simplification of registration processes such as incorporation and tax registration, as well as changes to accounts filing procedures in order to remove duplications.

There are, however, some measures that call for SMEs to adopt changes on their own behalf and embrace new responsibilities, these include the removal of zero-hour exclusivity clauses and enforced contribution to a publicly available register of people who possess significant control over a company or organisation.

It is also worth noting that SMEs with over 250 employees are required to publish information pertaining to the difference in salary between male and female employees.

Finance

Given on-going concerns regarding SMEs’ collective reliance on debt and equity finance, the SBEE’s financial measures are a welcome introduction to legislation. One such beneficial measure is centred on a commitment to helping SMEs that have been refused a loan by one of the ten dominant UK banks.

After refusal, banks will be legally required to assist the business in finding a suitable alternative lender through a dedicated online database.

New initiatives will also contribute to helping SMEs understand the differences between the different credit options available so that they can make more informed decisions. These initiatives also see the advent of new “challenger banks”, intended to drive competition with the large established banks.

Regulatory Engagement

The introduction of a Small Business Appeals Champion, tasked with improving the engagement between regulators and the regulated, is yet another example of a legislative measure the SBEE has introduced to benefit SMEs. This is designed to make it less time consuming, less difficult and less costly for small businesses to challenge and appeal decisions.

Whilst this blog outlines the impact of three particular areas of the SBEE act, there are a myriad of potential impacts the law can have on your business, to access our infographic and find out exactly how the SBEE could impact you, click the button below.

GET IN TOUCH

Tags: Business Advice
prev The 2015-16 Annual Investment Allowance and what it means for UK SMEs next SME Growth: The Role of Alternative Banks and the SBEE
Sharon Price

Related Articles

Why businesses lease their equipment

The real reason businesses lease their equipment

05 FebShire Leasing
Contract graphic

UK SMEs turn to alternative finance in the face of dwindling bank loans

07 MayMark Picken
How to keep your business competitive amid industry disruption

How to keep your business competitive amid industry disruption

19 DecShire Leasing

Quick Links

  • FAQs
  • Career Opportunities
  • Terms & Conditions
  • Privacy Policy
  • Fair Processing Notice
  • Make a Complaint

Get in Touch

1 Calico Business Park
Sandy Way
Tamworth
Staffordshire
B77 4BF
CONTACT US

Shire Leasing PLC is Authorised and Regulated by the Financial Conduct Authority for certain types of consumer credit lending and credit related activities that are regulated under the Consumer Credit Act 1974 and by the Financial Services and Markets Act 2000.  For certain types of products Shire act as a lender and a broker and for some products we act as a broker only.

Twitter
LinkedIn

 

Tel: 01827 68939
Email: info@shireleasing.co.uk

Registered in England and Wales
No.02476571
HomeAbout UsBlogContact Us
© 2017 All rights reserved. Site by Catalyst
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish.Accept Read More
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are as essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled

Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.