8 December 2015: The Government recently named and shamed another 113 employers who have failed to pay their workers the National Minimum Wage (NMW). Nearly 400 employers have been named and shamed to date. Sectors include hairdressing, retail, education, catering and social care. Amongst the most recent to be named and shamed was top retailer, Monsoon Accessories Limited.
On 1 October 2015 NMW rose to £6.70 for those 21 and over and it is to rise again to £7.20 in April 2016.
With so many sectors already struggling to pay the NMW, employers will be concerned about how these continuing rises are going to affect their cash flow and whether their businesses can sustain these growing overheads. Businesses may need to consider seeking advice on how the rises may impact their trade and affordability, especially if you are amongst those zombie companies or businesses that are struggling to make ends meet month by month.
BRI's team of experts can assist in considering the best solutions for you and your business to overcome or even prevent such cash flow difficulties.