Supply chain delays continue to grab headlines and create real headaches for buyers and suppliers. Much of the delay is rooted in the Covid-19 pandemic. Worker absence continues to slow down production. Ports are congested, containers are in the wrong place and shipping companies are shortening or cancelling routes. As a result, stiff competition for space on container ships increases shipping costs and causes significant delays. This in turn is leading to an influx of disputes between suppliers and purchasers. Where deliveries are delayed, the most pressing question for either party is ‘can the contract be terminated’? Clare Mackay, Senior…
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Last December, the British government revealed that 2021 was a record year for tech investment in the country, with £29.4 billion pledged in British tech. This figure marked a 2.3x increase on 2020, which is the largest year-on-year growth since 2013/14. The industry is booming, with the UK storming ahead of European rivals– second place Germany received less than half of the UK’s funds at £14.7 billion. It is therefore a key time for investors to tighten up their investments and ensure that these new tech-driven assets are safe and secure from day one. Guillaume Acard, CTO at Vaultinum provides some…
With today marking the start of half term for many schools across the UK – and COVID-19 travel restrictions now eased in over 25 European countries – almost a third (27%) of Brits surveyed are planning to upgrade their desk view by working remotely from Europe this year. As half term hits, new research from Virgin Media O2 Business reveals a growing trend for a ‘hybrid holiday’: with 76% of workers* polled considering adding remote working days around their annual leave as part of an existing trip, to make the most of time away and combine work and pleasure. The…
ITV has announced that it is partnering with Ecospend, a leading UK provider of open banking technology, to offer customers the ability to ‘pay-by-bank’ for its ITV Win competitions, which feature on headline shows, such as I’m A Celebrity… Get Me Out Of Here! Ecospend’s open banking payment method will launch on the ITV Win website and could potentially later offer an off the screen QR code functionality to let viewers pay for an ITV win entry directly from the screen. As a result of the partnership, payment processing times will become instant and bypass all card processing fees, acquirer…
Whilst many advise ‘never to go into business with family or friends’, over a cup of his famous artichoke tea, Anton Le Khak explains why he wouldn’t have it any other way and why the success of his brand Natur Boutique is a family achievement. It was Anton’s mother who set the entrepreneurial ball rolling in the Le Khak family. In 1991 she set up a company in Kiev, at the time part of the Soviet Union, which supplied herbal remedies from Vietnam to customers in Kiev and, further afield, into Russia. At a time characterized by product shortages in…
Parties entering into a contract are legally bound to honour their agreement or face the possibility of a dispute ending in litigation. So how can a party maximise the chances of bringing a contract to an end without the facing the legal ramifications that can ensue if termination goes wrong? Sinead O’Callaghan, Partner and James Arnold, Associate at Cooke, Young & Keidan provide some guidance and practical steps which can be taken by parties to ensure that they terminate contracts correctly. The first port of call should always be to carefully review the contract in question and, in particular, the termination provisions.…
Withholding contractual sick pay for unvaccinated staff has significant risks that employers should consider before enforcing the policy, according to employee relations experts, AdviserPlus. It comes after several employers including Ikea and Morrisons have cut sick pay for unvaccinated employees after a rise in staff absences over the winter period. Analysis by the Trades Union Congress found that 723,900 private sector workers were self-isolating due to Covid-19 from 13 to 26 December, which is around 2.7% of the private sector workforce. Although the number of positive cases has been in decline recently, with 74,799 new cases on 23 January compared to over…
With Gen Z turning their back on fast fashion, the second-hand clothing market has witnessed exponential growth. Vintage stores, charity shops, and most recently, online offerings such as Depop and Etsy, are seeing massive demand as consumers turn to ethical clothing options. Richard Mason Founded Bournemouth based vintage shop ‘Clobber’ in 1988. Over forty years later and his business is considered one of the most noteworthy vintage shops nationwide. Having set up Clobber Vintage in 1988, I have seen the second-hand clothing market shift and change over a number of decades – and witnessed first hand the changes that have…
Covid-19 not only created a health crisis, but it created a wealth crisis too. Despite support from the Government over the last 18 months many small businesses will continue to face challenges in the coming months. John Bell is director and founder of insolvency firm Clarke Bell. His advice to any owner of a company that is having cashflow problems or struggling with too much debt is to take control of their situation and seek professional help as soon as possible. Here John explains the difference between the dissolution of a company and liquidation. What is dissolution? Dissolution is a…
It was impossible to go through 2021 without hearing about the crisis afflicting global supply chains. Back in the first quarter of 2020 the pandemic triggered a catastrophic sequence of events that would ultimately impact how efficiently the world’s distribution networks operated. As Covid-19 ripped across the world and instigated lockdowns across nations and industries, including manufacturing, many assumed that global demand would drop. As we know, the opposite happened, and the pandemic ended up supercharging the public’s appetite for goods as people ended up spending less on things like travel and eating out, preferring to make a beeline for…