IT has been a particularly busy month for DBF and Diss business. First, was a meeting with the focus on Planning for Diss.
Many businesses turned out to hear town clerk Deborah Sarson and Richard Cooper, South Norfolk Council planning policy committee member, discuss current views on development policy and their effect on Diss. A lively debate was promised and delivered.
Then, two DBF members expressed some alarming concern about new legislation that will affect more businesses than you might think. The time for action is fast approaching, and I thought it would be a good idea to let you know what's up.
Corporate Security specialist, David Ryan of DRC Consultancy, warns: "Beware the new Corporate Manslaughter and Homicide legislation coming into effect on April 8.
"The Act aims to reduce the burden on individuals' liability, making it easy to prosecute your company in the catastrophic event of a death – of your staff, clients or members of the public. Even putting the business into administration will not avoid a punitive unlimited fine.
"You must put in place policies and procedures that give visible leadership on safety issues. Compliant employers have nothing to fear from the Corporate Manslaughter and Homicide Act 2007. Irresponsible risk takers might as well test the Lottery and hope it's a rollover week – you will need it."
And Merrick Hill's Kieron Burrows follows up with: "Unlike a limited company, a director's personal liability is unlimited. Directors can protect themselves by buying D&O insurance. Although D&O claims are not quite as common as others types of insurance, they can potentially be huge especially if there is an involvement in the USA."
Time to have a think, I think. The size of your business doesn't matter but the impact this legislation could have clearly does.
Well, we've now had 'bah, humbug', so….Next month, a bit of Christmas cheer!
Jenna Cox, of design, marketing and PR agency Articulate HLC, is a member of the Diss Business Forum committee.
For more information bout Diss Business Forum, visit
www.dbf.org.uk
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