A briefing summarising key features of the Enterprise Act
The Enterprise Act received Royal Assent in May 2016. The key
features of the Act include:
- Create a legal obligation for insurers to pay claims to
businesses within a reasonable time.
- Protect and strengthen the apprenticeship brand, introduce
targets for apprenticeships in public sector bodies in England, and
establish an Institute for Apprenticeships - an independent,
employer-led body that will make sure apprenticeships meet the
needs of business.
- Establishment of an independent Small Business Commissioner to
help small firms resolve issues such as late payment.
- Include the actions of regulators in the government's £10
billion deregulation target and increase transparency through
annual reporting requirements.
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