10 May 2022
Latest NHBF update – 10 May 2022
This week's update covers:
- State of the Industry Survey – sector trade and confidence levels still muted
- Interest rate rise
- Guidance for employing Ukrainian refugees
- Changes to the NHS COVID Pass
- Low Pay Commission regional visits
- Want to join an apprentice panel?
- CYBERUK 2022
- NHBF Website survey
NHBF State of the Industry Survey – sector trade and confidence levels still muted
As the National Hair & Beauty Federation publishes its latest State of the Industry quarterly survey, the report shows some hope in the industry, with businesses across the hair and beauty sector seeing a slight improvement in trade following the lifting of restrictions across the UK. Now 41% of businesses report being either busy or steady. An increase from January's report showed just 13% of businesses reporting a steady footfall.
- 44% are breaking even, with 30% making a small or good profit (up from 19%) and 27% (down from 40%) making a small or substantial loss.
- Over the last three months, 16% have cut back on apprentices (18% in January), and only 9% were definitely or likely to take on apprentices in the next three months.
- The latest survey findings show that the sector remains fragile, as it faces a perfect storm of rising costs for staff, energy and supplies.
Interest rate rise
The Bank of England's Monetary Policy Committee (MPC) voted by a majority of 6-3 to increase Bank Rate by 0.25 percentage points to 1%, its third rise so far this year.
The impact of the change in interest rates varies from business to business. Salons with overdrafts will have higher costs because they must now pay more interest. For best practice, business owners may want to renegotiate their rates with their bank.
For further detail on how to switch banks or how to renegotiate a new bank deal read our blog Business banking Time to Switch?
Guidance for employing Ukrainian refugees
The Government has published guidance for businesses wishing to employ Ukrainian people who have fled to the UK. Prospective employers are asked to fill in a questionnaire to compile suitable vacancies centrally.
Changes to the NHS COVID Pass
From 12 May 2022, the domestic NHS COVID Pass will no longer be available.
This means that venues and events will no longer be able to request it as a condition of entry.
In line with this change, from 12 May the medical exemptions service will no longer accept new applications from people who want to use the domestic NHS COVID Pass to prove they cannot be vaccinated for medical reasons. GPs will have until 11 July to process any applications received by 12 May.
The NHS COVID Pass for international travel will continue to be available as normal.
Low Pay Commission regional visits
To find out more about how the minimum wage has affected businesses, the Low Pay Commission will be visiting regions across the UK. If any Members are interested in speaking to the commissioners at any of the following locations, please get in touch with the NHBF enquiries team at email@example.com
11-12 May - Walsall, Wolverhampton
15-16 June - Conwy and Llandudno
6-7 July - Hastings and Rother
3-4 August - Derry
Want to join an apprentice panel?
The IfATE (Institute for Apprenticeships and Technical Education) has launched a recruitment campaign for new people to join their panel of apprentices.
The main purpose of the panel is to ensure that the views of apprentices are represented across the work and governance of the Institute.
The panel also meets regularly with ministers and other government officials to ensure the apprentice experience is front and centre of new policy thinking.
To apply, apprentices need to complete the expression of interest form and upload a copy of their CV.
The closing date for applications is midnight on 16 May 2022.
If you have any queries about this role or the application process, email: Institute.MEMBERSHIPOFFICE@education.gov.uk.
Some salon and barbershop owners assume they’re too small to be targeted by cybercriminals, but hackers often see small businesses as an easy target. That’s why it’s vital to remain vigilant and protect your business against financial and reputational damage.
A cyberattack will damage, destroy or breach your salon/barbershop computer system. Some hackers do this for fun, others ask for a ransom to put things right or will use personal data, such as customer details, to commit fraud for financial gain.
An NHBF survey found that over half of Members surveyed (56%) had been targeted by cybercriminals, and the vast majority of those had suffered financial loss.
To get a better understand on Cyber security, the National Cyber Security Centre's CYBERUK 2022 conference is taking place this week (10-11 May), and keynote speeches will be streamed live on the organisation's YouTube channel.
NHBF Website survey
We are working with our digital partner, MC2, to gather feedback on our website. Your answer will help us to develop and improve our current digital platforms. Any information you provide will remain anonymous.
The survey will take no longer than 5-10 minutes to complete. Please click here to take the survey.