26 July 2022
This week's update covers:
- Hair & Beauty Industry showing good signs of recovery but needs more help to stabilise
- Cost of Living Payments
- Recovery Loan Scheme successor announced
- Cancer Charity Issues Urgent Appeal for Volunteers from the Beauty Industry
- Train strikes this week
- HMRC customer survey findings
- More than a million businesses now eligible for Help to Grow as software scheme receives a boost
- Final week to get your nominations in to the Hair & Beauty industry Top 100 Influencers Index 2022
- NHBF Campaigning for You - Meeting with the new Minister for Small Business, Jane Hunt MP
Hair & Beauty Industry showing good signs of recovery but needs more help to stabilise
The latest NHBF State of the Industry survey findings show that, after a long, hard two years, the sector is finally showing again the more positive signs of recovery and levels of business confidence that we first saw in September 2021.
Cost of Living Payments
Millions of people on means-tested benefits will receive the first of two Cost of Living Payments totalling £650 this month as part of a £37billion government package to help families with the cost of living pressures; this includes around 10% of NHBF Members.
The first £326 instalment for qualifying low-income households in England, Wales, Scotland and Northern Ireland started being paid on 14 July 2022, continuing to the end of the month. For those eligible, the rest will follow in a second instalment in the autumn.
People receiving tax credits and no other eligible benefits will receive their first payment from HMRC in autumn and the second in winter.
In total, millions of vulnerable households will receive at least £1,200 from the Government this year to help cover rising costs. There are specific payments for those on means-tested benefits, pensioners, and those on disability benefits to help people with energy bills.
For more information, go to the Cost of Living Payment page on gov.uk.
Recovery Loan Scheme successor announced
The Government announced on 20 July 2022 that there will be a successor scheme to the Recovery Loan Scheme, which will open for applications in August 2022. Responsible Finance has been calling for confirmation of a successor scheme and gave detailed proposals to Treasury about a long-term loan guarantee scheme.
Theodora Hadjimichael, chief executive of Responsible Finance, said:
"Small businesses need the right finance at the right time to develop, support jobs and create opportunities. The Recovery Loan Scheme has ensured thousands of viable enterprises could get the financial backing they needed to invest in their communities. It's great news for our SMEs that the Government has listened to calls from Responsible Finance, the CBI and business leaders about the need for a successor scheme to support sustainable growth for viable businesses. We welcome this confirmation that a successor scheme will open in August. The Community Development Financial Institutions (CDFI) sector is committed to making the new scheme a successful policy tool for supporting underserved businesses and communities to grow and prosper."
Cancer Charity Issues Urgent Appeal for Volunteers from the Beauty Industry
Leading cancer support charity Look Good Feel Better has launched an urgent appeal for qualified beauty industry professionals to support people undergoing treatment for cancer.
The charity is specifically looking for qualified beauty therapists, skincare specialists and make-up artists to volunteer to use their skills to help support the charity's workshops.
Look Good Feel Better organises free workshops held virtually and in hospitals and Cancer Care Centres throughout the UK. Aimed at people undergoing treatment for cancer, they provide practical make-up and skincare tips, as well as advice about changes to skin, eyebrows, eyelashes, hair, nails and body confidence. These sessions are all held in a safe environment and help attendants regain confidence and feel better about themselves.
Look Good Feel Better seeks people over 18 with a professional qualification (NVQ level 2+ or equivalent) and 1+ years of experience in Skincare and/or make-up. The minimum input is nine hours a year.
Train strikes this week
More train strikes are scheduled for this week, with Wednesday (27 Jul) due to seeing widespread industrial action. Saturday (30 Jul) will also be affected.
HMRC customer survey findings
HMRC has published the findings of its 2021 Individuals, Small Businesses and Agents Customer Survey, which found that 76% of small business customers gave a positive rating to their experience with the agency, down from 82% in 2020. Confidence in HMRC among small businesses also fell, from 71% in 2020 to 63% in 2021.
More than a million businesses now eligible for Help to Grow as software scheme receives a boost
Help to Grow: Digital Scheme eligibility has been expanded to businesses with at least one employee, meaning up to 1.2 million businesses could benefit.
- The Government's Help to Grow: Digital scheme is nearly tripling in reach, supporting up to 1.2 million UK businesses to adopt the latest digital technology
- Businesses with 1 to 249 employees can now access discounts worth up to £5,000 on approved software
- eCommerce software has been added to the scheme, helping businesses to sell online and reach new markets
Previously, only businesses with more than five employees were eligible for the scheme. Businesses with at least one employee are now eligible to benefit. This boosts the number of eligible businesses by 760,000, reaching up to 1.24 million.
Final week to get your nominations in to the Hair & Beauty industry Top 100 Influencers Index 2022
We have reached the final week to get your nominations for this year's 'Hair & Beauty industry - Top 100 Influencers Index'. This is your opportunity to recognise those in the industry who influence, educate and innovate the sector through their social media channels.
You can nominate your favourite influencers at www.nhbf.co.uk/top-100-influencers.
NHBF Campaigning for You - Meeting with the new Minister for Small Business, Jane Hunt MP
Richard Lambert, NHBF chief executive met Jane Hunt MP, the new Small Business Minister with responsibility for the personal care, this week as part of a cross-sector roundtable with other hair & beauty sector leaders. The previous Minister, Paul Scully MP, moved to another department as part of the recent government reshuffle. Before leaving, Paul Scully acknowledged the valued and ‘incredible’ work of the personal care sector. During the meeting, Richard outlined the current state of the sector using our July State of the Industry survey and the Careers at the Cutting Edge skills report. It was very much an introductory meeting for the new Minister, but she plans to hold these roundtables regularly, with the next one set for November.