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Increase in Living Wage Means Changes for SMEs
Lee Murphy, owner of accountancy software Pandle, says:
“The government’s recent decision to begin increasing the living wage is both a challenge and an opportunity for SMEs. Raising the living wage will mean SMEs have more costs, which may stunt company growth while the economy re-stabilises. However, hope is at hand – having more money in the pockets of consumers means increased spending to pay off personal debts. This can be hard to commit to though, as wages have declined relative to past years. Modifying the living wage could be a chance for the Bank of England to realign the economic landscape.”
“In advance of this year’s Autumn Budget, I anticipate and hope that we see some sort of assistance package for new small businesses who may not be used to this changing environment. Small businesses will need to work out exactly which employees are eligible, educate on what these changes mean and update the company’s payroll and policies. With these new changes rolling out incrementally until 2020, it’s important that you speak with your accountant about how your business will be impacted.”
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Redbridge: Visa’s Commercial Enhanced Data Program (CEDP) – What Merchants Are Really Facing
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TSAM London: FE fundinfo on Mastering Data and Unifying Operations in Asset Management
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Reap and TerraPay Partner to Expand Local Payout Corridors Globally
Reap, the stablecoin-native global payments and financial platform infrastructure for businesses, today announced a strategic partnership with TerraPay, a global money movement company, to expand local cross-border payouts through direct access to domestic clearing systems worldwide.
Digital Assets Clearing Center Secures US$10 Million Funding for International Market Infrastructure
Digital Asset Clearing Center (DACC.HK), a next-generation financial market infrastructure for the tokenized economy, today announced US$10 million in funding from strategic partners including Conflux, Transaction Technologies Limited (“TTL”) and Global InfoTech. Traditional bank transfers continue to dominate the US$214 trillion cross-border payments market, but tokenized finance offers an alternative to slow settlement cycles, high transaction costs, fragmented data systems and regulatory barriers. Digital Asset Clearing Service offers seamless connections to the world's leading payment systems including Cross-Border Interbank Payment System (CIPS), blockchain networks and compliance infrastructure delivering end-to-end Clearing-as-a-Service (CaaS) for financial institutions.