by Ian Girling, chief executive, Dorset Chamber of Commerce and Industry

OCTOBER 1 saw the introduction of important new requirements and legislation that business owners need to be aware of – the increases to the minimum wage as well as the introduction of the new 2015 Consumer Rights Act, the biggest shake up in consumer rights law for many years.

The statutory minimum wage for 18 to 20-year-olds is increased from £5.13 to £5.30 and for 16 and 17-year-olds this is increased from £3.79 to £3.87. For apprentices, the increase is 57p to £3.30 an hour. The rate for people aged over 21 has also increased from £6.50 to £6.70. Employers that fail to pay the minimum wage face expensive penalties as well as being publicly ‘named and shamed’ by the Government.

Following this on April 1 2016, the new National Living Wage will be introduced for workers aged 25 and over, being a rate of £7.20 per hour. There is an element of political spin within this, given is effectively a re-branding of the minimum wage for these workers, not to be confused with the Living Wage, an informal benchmark promoted by the Living Wage Foundation and supported by many leading businesses.

The new Consumer Rights Act is something business owners really need to understand and replaces three major pieces of legislation; the Sale of Goods Act, Unfair Terms in Consumer Contracts Regulations and the Supply of Goods and Services Act. The Consumer Rights Act introduces many new rights that business owners will need to be familiar with. This includes a new 30 day limit to be refunded on faulty goods, a new 'tiered' remedy system for faulty goods, digital content and services, and new regulations around repairs. The new legislation also gives new rights to consumers regarding digital content they purchase and as well as new rights around challenging hidden fees and charges. Given these major changes it is essential business owners familiarise themselves with these new regulations and for more information visit gov.uk/government/publications/consumer-rights-act-2015