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Energy crisis prompts fears of a ‘generation of lost businesses’

30 Aug 2022

Nearly 14% of small UK businesses expect to close in the next twelve months, according to a new report published by the Federation of Small Businesses.
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Book sales set for new record

30 Aug 2022

The UK’s love affair with reading, rekindled during pandemic lockdowns, shows little sign of abating with almost £1 billion being spent on paperbacks and hardbacks already this... Read more…

GPs to prescribe cycling to help improve mental & physical health

24 Aug 2022

The Department for Transport has announced a £12.7m trial to begin later this year, in which GPs in England will be able to prescribe walking or cycling as a way of improving mental and... Read more…

Cyber security only prioritised by businesses after a data breach, DCMS reports

23 Aug 2022

Government research has revealed that UK businesses only begin to appreciate the importance of cyber security once the business has sustained a “serious” attack.
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Cash use fell again in 2021 as contactless accounts for a third of all payments

22 Aug 2022

In its latest Payment Markets Report, UK Finance has said that the 40.4 billion payments made by consumers and businesses in the UK during 2021 represented a return to pre-pandemic payment... Read more…

How Are Small Shops Valued

18 Aug 2022

Small shops are defined as any shop less than 1,850m² (or 20,000 ft²). There are around 500,000 small shops in England and Wales – accounting for £11.5bn worth of rateable... Read more…

Leading UK retailers urge police to “make retail crime a priority”

18 Aug 2022

Over 100 leading UK retailers have written a joint letter to Police and Crime Commissioners in England and Wales requesting that violence and abuse against retail workers be made a priority,... Read more…

BikeBiz opens nominations for retailer awards

17 Aug 2022

Industry magazine BikeBiz has opened nominations for its annual retailer awards in association with ArmaUrto. Categories include IBD of the Year, Omnichannel Retailer of the Year, and Best... Read more…

Retail sales rose in July but ‘rocky road ahead’ forecast for retailers

17 Aug 2022

According to the BRC-KPMG Retail Sales Monitor, retail sales rose in July though the news came with a warning that this could be the “lull before the storm”.
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Learn from the best social media posts of 2022

20 Jul 2022

Each week Maybe* round up the best social media posts from across the UK. See who's coming... Read more…

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National Living Wage Review published

Posted on in Business News, Cycles News, Political News

The Low Pay Commission has now published its review of the National Living Wage from 2015-2020. You can read the review as well as its headline findings online here.

The announcement of the National Living Wage in 2015 heralded a new era for minimum wages in the UK. The policy aimed to increase pay and productivity without harming jobs, while also reducing spend on benefits. This review collects the evidence on the NLW’s achievements from 2016 up to April 2020, when the National Living Wage reached the Government’s initial target of 60 per cent of median earnings.

The review finds that while the NLW increased wages and did not reduce employment, the increase in earnings did not lead to higher incomes and did not measurably improve productivity. Nevertheless, the growth in earnings helped reduce regional pay inequality and contributed to shrinking gender and ethnicity pay gaps. After the introduction of the NLW, minimum wage workers were less likely to move employers but continued to progress into higher-paid roles at the same rate as previously.

Alongside the review, they have also published a more detailed paper on the impact of NLW on productivity which you can also access here.

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