Better Business Act

During the last week we have seen the power of private business owners trying to make changes to the national sport of Football.

Whilst King Power Stadium, as part of the localism act, is listed as an asset of community value.

Details of the localism act can be found here.

Other aspects within company law do not give communities as much say over decisions.

A  coalition of businesses are supporting the “Better Business Act”, a campaign to rally business around an ask to government to amend section 172 of The Companies Act. This will ensure that company directors are responsible for advancing the interests of shareholders alongside those of wider society and the environment.

The Better Business Act is a business-led campaign, driven by leaders who recognise that the law has fallen behind business culture and who have proven that this approach to business works for everyone.

Their aim is to secure as many pledges of support as possible for the campaign principles and then to work with the government and parliamentarians to get legislation passed. They know that there is a lot of support in Westminster for this but that this must be an “ask from business” rather than something they are seen to be imposing on business.

Part of their message to government is that the Better Business Act is a unique opportunity to demonstrate UK leadership on the global stage – creating a competitive advantage, driving innovation, accelerating progress to net zero, and aligning with the government’s ambition to build back better.

You can find out more and sign up to the campaign here.