Enterprise Bill - Small Business Conciliation Service - Queens Speech
The proposals in the Enterprise Bill for a Small Business Conciliation Service are a good step to support long term supply chain relationships between large and small firms. There are few other proposals in the Queen's Speech which seek to restore trust and integrity in markets and promote long term approaches to corporate culture. The fact that government is not rushing into legislation in this area is welcome. We need an honest debate about the shortfalls of current corporate culture and reasoned thinking to ensure we adopt the best tools to create more sustainable, productive markets. Arguably a new approach is needed to avoid the unintended consequences of simply replacing 'pursuit of short term return' with 'minimal compliance risk' as the overarching driver of behaviour. It is to be hoped that the business and City ministers in the government will engage in a debate on this in coming months with a view to a longer term programme over the next few years.
Source - Grant Thornton