Blogs Archives - Astute Financial

The Government’s latest announcement that the scourge of late payments owed to SME businesses will be legally addressed comes as welcome news!

38 businesses a day close because of late payments. Thats in excess of 266 business closures a week. Over One thousand companies closing down with all the attendant job losses every single month!

A huge amount of time is spent by well-run companies chasing overdue payments for services and good they have already supplied or manufactured having spent their money providing these.

This new Bill alters the way companies pay each other, which should end the pain of excess delays and unscrupulous practices which always hit the smallest businesses hardest!

Key takeaways of the Small Business Protections Bill (formally known as the Commercial Payments Bill) include: –

Introduction of a 60-day cap on payment terms on all big companies paying smaller suppliers, mandatory interest on late payments, set at 8% above the Bank of England base rate
A complete ban on the practice of withholding retention payments under construction contracts.

Regardless of your political persuasion, Sir Keir Starmer’s comments on this new payment legislation and it’s impacts for SME businesses and saving jobs is hard to disagree with!

The Prime Minister had this to say; “Small businesses are the backbone of our economy – run by people who take risks, create jobs and keep communities going. This government is firmly on their side.

“Too many small business owners are spending hours chasing money they are owed and when payments don’t come through, the cost is personal. It’s about whether you can pay your staff, keep the lights on, or invest in your future.

“Today we’re changing that with the toughest action on late payments in a generation, so small businesses get paid on time and get the backing they need to grow, create jobs and serve their communities.”

There will also be new powers for the Small Business Commissioner enabling them to investigate poor payment activities, judge disputes and importantly, fine the worst offenders – awarding the offenders fines that could be worth many tens of thousands of pounds for those with the worst persistent late payment records.

This news is of critical importance to all small businesses and particularly welcome news for the SME business community!

As the Business Secretary Peter Kyle commented: “Costing the UK economy £11 billion every single year, late payments choke growth, cost jobs, and force too many good businesses to close. That ends today.

“Through this landmark bill we are delivering the toughest payment reforms in over a generation, to give the UK the strongest legal framework in the G7, and back small businesses with the certainty they need to grow and thrive.”

You can view the article in Business Insider by clicking HERE

The Small Business Commissioner is also getting new powers to investigate poor payment practices, adjudicate disputes, and fine the worst offenders – with potential fines that could be worth tens of millions for persistently late payers.

Business Secretary Peter Kyle said: “Costing the UK economy £11 billion every single year, late payments choke growth, cost jobs, and force too many good businesses to close. That ends today.

The Bill builds upon and strengthens legislation first laid out in the 1998 Late Payment of Commercial Debt Act.

After working with the Federation of Small Businesses, these Bill powers will also ensure boards or audit committees of persistently late‑paying large companies publish clear explanations of poor payment performance and the steps they are taking to improve it.

FSB Policy Chair Tina McKenzie said: “Tackling late payment is one of the biggest things the government can do to help small businesses grow. FSB is proud to have worked with ministers on these reforms and it’s encouraging to see the voice of small firms reflected in legislation. Giving audit committees a clear role in payment practices is a vital step in changing late payment culture.”

Mental Health Awareness Week 2026: Moving from Awareness to Action

The 11th to 15th of May marks Mental Health Awareness Week. After years of “starting the conversation,” the 2026 theme is “Action.” It’s a call to move beyond posters and slogans and toward meaningful changes in how we work and live.

In a climate shaped by the ongoing cost-of-living crisis and a volatile job market, mental health isn’t just a “HR topic”, having good mental health is the foundation of our economic and social resilience.

The Employer’s Perspective – Building an “Action-First” Culture

For companies, “Action” means moving past one-off yoga sessions and focusing on the systemic causes of workplace stress. High interest rates and market uncertainty have put pressure on bottom lines, but the cost of burnout is far higher.

Moving to Action:

Audit the Workload: The most effective “action” for mental health is often simply ensuring people have the time to do their jobs. Review team capacities to prevent chronic overwork.
Financial Wellbeing Support: Acknowledge the cost-of-living crisis. Action can include providing access to financial planning tools, transparent salary benchmarking, or hardship grants. Equally action could include temporary support with fuel costs for staff travelling into the office.
Manager Training: Upskill leaders to spot signs of struggle early. Action is a manager feeling confident enough to say, “I’ve noticed you’ve been quiet lately. How can I help?”

Useful Resources for Employers:

MHFA England Action Toolkit: Guidance on implementing Mental Health First Aiders.
Mind’s Wellness Action Plans (WAPs): A practical tool for managers and employees to co-create support structures.
A great online social media toolkit is available on MIND https://www.mind.org.uk/media/q1qpvn2u/mhaw-2026-sport-physical-activity-pack.pdf

Stage 2: The Candidate’s Perspective – Navigating the Search

Looking for work in 2026 is a marathon, not a sprint. The “Action” theme for candidates is about self-preservation and reclaiming agency in an often impersonal process.

The Reality of the “Fruitless” Search:
Job seeking in a tight market is mentally exhausting. Frequent rejections, or worse, “ghosting” can lead to:-

Imposter Syndrome: Feeling unqualified despite years of experience.
Financial Anxiety: The weight of the cost-of-living crisis making every “no” feel like a personal rejection and increasing desperation to find any job.
Erosion of Routine: Losing the structure of a workday can lead to lethargy and isolation.

Moving to Action:

Set “Working Hours” for the Search: Don’t let job hunting bleed into your entire evening. Decide that “Action” for today ends at 4 PM. Set a designated hour / time of day to focus on your job search but then have a strict ‘finish time’ and stick to that!
Control the Controllables: Focus on the quality of connections rather than the quantity of clicks. One coffee chat or a tailored job application is a more positive “action” than 50 “Easy Apply” hits.
Protect Your Identity: Remind yourself that you are more than your job title. Engage in hobbies or volunteering to maintain a sense of purpose that isn’t tied to an employer’s response. In other words – do something for YOU!

Useful Resources for Candidates:

National Careers Service: For free advice on managing career transitions.
Mental Health UK – Managing Money Anxiety: Practical tips for when financial stress impacts your mind.
Mental Health Foundation: Check out their excellent website on this link: https://www.mentalhealth.org.uk/our-work/public-engagement/mental-health-awareness-week

The Bottom Line:

Whether you are hiring or applying, the ‘action’ for 2026 is to replace “I hope things get better” with “What is one small thing I can change today?”

The latest annual survey by organisational design and planning software platform Orgvue, based on feedback from 1,000 C-suite executives and senior decision makers at medium and large organisations, shows that 39 percent of leaders made redundancies after introducing AI. Of these, 55 percent acknowledged mistakes in their redundancy choices and are now admitting those redundancy decisions were wrong.

Consequences of the AI-induced redundancies include widespread internal confusion, leading to employees quitting and a drop in productivity – the exact opposite of what businesses had initially hoped for with the deployment of artificial intelligence.

Having seen how it’s played out, businesses are now less likely to believe that AI will replace human workers after all.

The report uncovers huge amounts of uncertainty over AI’s impacts on the workforce, with 38% of leaders still don’t understand AI’s impact on the businesses, with 25% unsure which roles are most at risk from AI.

Despite only 48% of managers expecting AI will replace some workers compared with 54% last year, leaders reportedly feel less responsible in protecting their workforce from redundancies.

Oliver Shaw, CEO of Orgvue, said that businesses are “learning the hard way” that replacing people with AI can go “badly wrong”.

“We’re facing the worst global skills shortage in a generation and dismissing employees without a clear plan for workforce transformation is reckless,” he said. “Some leaders are waking up to the fact that partnership between people and machines requires an intentional upskilling program if they’re to see the productivity gains that AI promises.”

Despite challenges, AI continues to be a major driver of workforce transformation. Seventy-two percent of business leaders believe AI will remain the dominant force shaping their organisations over the next three years, a slight increase from 2024. Investment in AI remains strong, with four in five businesses that invested in AI last year planning to increase their investment in 2025.

In today’s rapidly changing work environment, connecting the right people to the right roles has never been more crucial. The COVID-19 pandemic fundamentally changed the way we work, catalysing the widespread adoption of remote and hybrid work models. Fast-forward to 2025, and hybrid work is no longer a trend, it’s the standard across many industries. Yet, with its rise comes a new set of expectations, challenges, and innovations in the recruitment space. Companies and candidates alike must now navigate a landscape where flexibility is balanced with performance, culture, and long-term value.

Hybrid work, where employees split time between remote and in-office settings, has become the preferred model for many companies. According to a 2024 report by Gartner, 71% of knowledge workers globally now work in a hybrid model, which is expected to rise.

Recruiting for hybrid roles involves a blend of strategies to ensure that candidates can thrive in both remote and in-person environments. This means evaluating more than just technical skills. It includes digital communication ability, self-motivation, and adaptability.

Role Clarity Is Essential

Clear job descriptions have become even more important with Candidates wanting to know:

What days (if any) are expected in-office?
Are there flexible working hours, does it follow traditional 9 – 5 hours or is there an expectation to be available at specific times?

Transparency at this stage sets the tone and reduces conflicting expectations down the line.

For businesses, hybrid models can boost employee satisfaction and retention. Employees who are granted flexibility often report higher job satisfaction and engagement levels, which in turn leads to improved productivity. When companies recognize that flexibility can enhance the employee experience, they are better positioned to attract and retain top talent, especially in competitive industries.

Hybrid working also reduces overhead costs for businesses. Companies can downsize their physical office spaces, saving on rent, utilities, and maintenance, while still maintaining a dynamic work environment that supports both collaboration and flexibility.

Perhaps one of the most significant benefits of the shift to remote work is the ability to recruit from a much wider geographic area. From a recruitment perspective, location is no longer a limiting factor. Businesses are no longer confined to sourcing talent within commuting distance of their offices. This means that roles traditionally based in Nottingham, Derby, or Leicester can now attract candidates from across the UK or even globally.

While the benefits of hybrid and remote work are clear, these models also come with challenges that employers must navigate. Managing a distributed workforce requires thoughtful planning and strong communication. Employers need to ensure that remote workers feel connected and engaged, even if they are not physically present in the office.

Building a cohesive team culture in a hybrid or remote setting can be challenging. Regular communication, virtual meetings, and team-building activities are essential to maintain a sense of belonging and ensure that employees feel supported. It’s also critical to equip managers with the skills to lead remote teams effectively, fostering trust, accountability, and clear expectations.

Additionally, businesses must invest in the right technology and infrastructure to support hybrid and remote work models. From cloud-based collaboration tools to secure networks, ensuring that employees have the resources they need to work productively from anywhere is key to long-term success.

Another consideration is the potential impact on career development and progression for remote workers. Employers need to ensure that remote employees have access to the same opportunities for advancement, professional development, and mentorship as their in-office counterparts. Transparency and fairness in promotions and career growth are crucial for maintaining morale and retention across a distributed workforce.

The Future is Flexible
The truth is, there’s no one-size-fits-all solution. What works for one company or individual may not work for another. However, the hybrid model offers a promising path forward, which balances the need for collaboration and connection with the desire for flexibility and autonomy.

As we navigate this new era of work, it’s clear that the companies that succeed will be those that listen to their employees, adapt to their needs, and embrace the possibilities of hybrid and remote work.

Mary Maguire, MD of Astute Recruitment talks about ‘How to make your job search more successful’ and specifically about how to best engage with your recruiter.

300+

5 reviews

View our Google page

Leave a positive review

Mike

3 years ago

Highly recommended! Josh and Sarah have been fantastic at Astute. They've found and placed me in 2 jobs now between them, both really responsive and excellent at keeping you up to speed with things. Very knowledgable about the roles and happy to talk to companies with any queries you have.

C R.

Great agency one of the best ones I've worked with! Liz has been a great help and support in helping me towards a new direction in my career life. She is very attentive and keeps me in the loop at all times! She makes the extra effort to work with my preferred requirements for work and even if it isn't completely attainable she meets me in the middle and does as much as she can to help! Also Liz is very funny might I add 😂 and I'm happy that I can now put a face to the name after all these years! Thank you again Liz for all your help and support! 😊

Christine

4 years ago

Josh and the Astute team was very swift to help me to find roles that matched my profile. They are really reliable and will help through every step of the recruitment process going out of their way to assist and follow up when needed. Could not find a better recruitment agency!

Helen Pinegar

Fantastic recruitment agency.. Josh was extremely enthusiastic, encouraging and clearly knowledgeable about what was needed from both the employee and the employers point of view. Extremely supportive especially in regards to interview preparation and endeavoured to procure feedback promptly. Wouldn’t hesitate to recommend Astute in the future to both candidates and recruiting businesses particularly for the right fit for the role!!!

Lisa Leigh

I have worked as a candidate for Astute and they have been excellent. Super friendly service and professional agents keen to fit the right person to the right job. It has been a pleasure dealing with them and I would happily work for them again in the future. Highly recommend this agency.