Welcome back for another Linkibuzz post!
We’ve got a few interesting stories covering employment, legal matters, and startups for this week.
In our first featured story, we look at how lawmakers in Ireland are seeking a reform of employment laws that gives workers greater rights and protection. This is the result of a situation where a department store was bought by another company and then liquidated.
Our second story tackles an interesting copyright infringement breach. Apparently the design for Kate Middleton’s wedding dress was stolen. At least that’s what luxury wedding dress designer Christine Kendall thinks anyway.
Our third story features a report that shows demand for professional talent in the UK has slowed because of the looming EU referendum. This is no surprise but it has had an effect on the industry.
Lastly, our final story covers how many UK based tech startups are failing to get beyond startup stage and reach rapid growth stage. It’s a big problem that needs addressing and two academics who have studied this issue have presented their solutions to solving this problem.
So sit back and enjoy this week’s Linkibuzz.
There is some good news for workers with news that there is a report that has been commissioned regarding compensation and changes to employment laws in Ireland. This report is a direct result of a situation where a department store called Clerys in Dublin was shut down. Clerys was shut down because it was bought by another company called Natrium.
Natrium liquidated the company and 130 full-time staff and 300 concession workers were let go. Now the problem in this situation is that the laid off workers were not made aware of any closure and could not collect their redundancies. This is because of some loopholes in the current employment law legislation.
Now the laid off workers are the ones in the worst position. However, despite the bleak situation, there is some good to come out of it because now there is likely to be reform in the current employment laws. This will give workers more rights and punish companies that don’t give their workers adequate notice or access to their redundancies.
It’s a big win for workers rights and the right thing has to be done.
We all know how important intellectual property protection is. If you aren’t protecting your business then you’re naive and operating without adequate protection.
Occasionally, we hear about some crazy intellectual property theft story, one that is a little bit left field and this story certainly constitutes that. In this story, it’s reported that a luxury wedding dress designer is suing the fashion label that designed Kate Middleton’s dress!
The designer submitting the copyright breach, Christine Kendall, claims that the ideas she submitted to Kate Middleton for her wedding dress design were stolen by the eventual winner, Alexander McQueen.
We’re not really sure how this one is going to play out but it’s certainly a different copyright breach story. It goes to show how important you must be when designing or doing any kind of work.
Always get intellectual property protection for anything you think needs it whether it’s a trademark, copyright or patent. You never know when you may need it.
In a somewhat alarming report by the Association of Professional Staffing Companies, it’s revealed that demand for professional talent across the UK has softened.
Generally, growth and demand for professional contractors gradually increases a little each year. However, the findings from this year’s report show that demand has slowed significantly with only a 1% increase in demand for professional contractors.
The most logical explanation for this is the market uncertainty in the UK surrounding the issue of a potential British exit from the European Union. The findings clearly show that the market uncertainty created by the EU referendum is causing many companies to temporarily hold off on hiring professional talent until things cool down again.
Despite this, the findings show that salaries remain steady, climbing at a rate of 3.9% for this year, which is great news for the UK market. Considering that the growth of professional talent across the board in the UK market is generally positive, we can expect it will jump back to its normal growth levels once the market cools down after the EU referendum.
An alarming joint report by the Oxford and Cambridge business schools has found that the UK has the largest amount of technology startup’s outside the US, but many of them are failing to get beyond that stage. The report highlights that this is primarily because many startups are failing to nurture rapid growth to take their businesses to that next level.
To put this into perspective, since 2012 only 1% of the 600,000 registered startups in Britain managed to hit the “scale up” stage, which is when a company achieves growth of 20% over a three year period.
To say that this is a problem is an understatement. Two key academics involved in creating this report have suggested that focusing on leadership and financial support are the key factors for rectifying this problem with UK startups.
A company can only move into rapid growth stage if the leadership and financial support exists and it has been found that they are severely lacking for UK based startups. This was painfully demonstrated when a UK-based startup called Mitoo decided to move its base from the UK to San Francisco where the environment was deemed to be more conducive for rapid growth.
This is a serious problem that needs addressing and if it continues to linger, then the UK will lose more companies like Mitoo to the United States, which will severely affect the economy and the UK’s status as a hub for European technology startups.
Thanks for reading this week’s Linkibuzz. We’re sure you got a lot of value out of it and enjoyed reading it as much as we enjoyed creating it.
All of the stories mentioned above can teach you something about running your own company. The first story shows how employment law is an area that should be favourable to workers and give them incentives to feel loyalty to a company.
Our second featured story highlights the importance of intellectual property protection. The reality is that copyright theft can happen anywhere and anytime. Whether it has in the case of Kate Middleton’s dress is purely up to the courts to decide.
We all know that a potential British exit from the EU is going to affect the market and this has been validated in the third story. It shows that demand for professional talent has slowed and will not pick up again until after the EU referendum takes place.
Lastly, a big one for technology startups based in the UK. It’s a serious problem that many UK startups can’t reach the rapid growth stage. It’s a problem that needs to be addressed quickly or else we’ll have to face losing more startups to the United States.