Time Finance urges businesses to join real Living Wage scheme

The first of April marks the biggest cash boost to the minimum wage for over a decade, with the “national living wage” increasing from £10.42 to £11.44 an hour, putting £1,800 a year directly into the pockets of full-time employees aged 21 and over.

But as the cost of living remains high, Time Finance is urging like-minded businesses to sign up to become an accredited partner of the Living Wage Foundation’s voluntary real Living Wage scheme.

Since October 2021, Time Finance has continued to support the real Living Wage initiative, which now sees minimum hourly rates sit at £12 across the UK, and £13.15 in London. The age threshold is also dropped under the accreditation to accommodate those aged 18 and over, whereas the National Living Wage usually sits at 21.

Time Finance plc (LON:TIME) is an AIM-listed business specialising in the provision or arrangement of funding solutions to UK businesses seeking to access the finance they need to realise their growth plans. Time Finance can fund businesses or arrange funding with their trusted partners through Asset Finance, Invoice Finance, Business Loans, Vehicle Finance or Asset Based Lending.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
X
LinkedIn
Time Finance plc

More articles like this

Time Finance plc

The importance of Business Strategy

A business strategy typically serves as an outline detailing how a company plans to position itself, grow over time, and achieve its short-term and long-term objectives. It doesn’t always have to be a formal document, but

Time Finance plc

How to raise capital for business growth and success

Understanding how to raise capital can significantly impact a business’s success. Without the necessary funds, a company cannot grow or even begin its path towards success. Yet, many businesses struggle to identify the most suitable methods

Time Finance plc

Time Finance supports SMEs with new Growth Guarantee Scheme

SME business finance provider, Time Finance, has recently been accredited as a lender for the Government’s Growth Guarantee Scheme, expanding its offerings to include this initiative within its Asset Finance division. This scheme, launched in July

Time Finance plc

Thriving in the finance industry as a young professional

Starting a career in the finance industry can be both thrilling and challenging, offering vast opportunities for growth alongside a steep learning curve. To help accelerate your career development, embracing key strategies is essential. One of

Time Finance plc

Set and Match secures growth with management buyout

Set and Match Ltd, a printing company based in Birmingham, is poised for future growth after successfully completing a management buyout, supported by an Asset-Based Lending (ABL) deal. The financing package, which includes a £70k Invoice

Time Finance plc

Nurturing the next generation in finance

Time Finance is dedicated to nurturing the next generation of finance professionals, ensuring they are well-equipped to thrive in the industry. By aligning their core values—being bold, flexible, genuine, and prioritising people—with a commitment to enhancing

Time Finance plc

Finance Lease vs Hire Purchase

When businesses look to acquire assets, they have the option to pay upfront with cash or finance the purchase through a finance lease or hire purchase. Both methods can cover a variety of business equipment, including

How Asset Finance supports the construction industry

Asset Finance enables businesses to acquire essential equipment without a significant upfront payment. Rather than purchasing assets outright, companies make regular payments over a specified period, which helps them avoid the full cost of buying equipment

Time Finance plc

The benefits and drawbacks of Invoice Discounting for businesses

Invoice discounting provides businesses with an injection of cash by leveraging their accounts receivable, ensuring cashflow without notifying customers. This method is crucial for businesses facing late payments, allowing them to continue operations smoothly. Time Finance