UK SMEs overwhelmingly unaware of the Modern Slavery Act’s impact on them, CIPS research finds
- The UK Modern Slavery Act means SMEs will face greater scrutiny from larger businesses they supply to, on slave and child labour issues
- Despite that, nearly two thirds (61%) of small businesses surveyed are unaware of the Act, let alone its impact on them
- While forced and slave labour typically occur in the operations of smaller businesses, 67% of SMEs admitted to having never taken any steps to tackle the issue
- Three quarters (75%) of SMEs would not know what to do if modern slavery was found in their supply chains
- CIPS is calling for SMEs to take a proactive stance, and put in place measures to ensure their operations and supply chains are slavery-free
The positive cascading effects on SMEs’ supply chain management as a result of the Modern Slavery Act are already being called into question by new research compiled by the Chartered Institute of Procurement & Supply (CIPS).
From 1st April this year, under the terms of the Modern Slavery Act, UK businesses with a turnover of £36m or more, will be required to make an annual statement, setting out the steps they have taken to stamp out slave and child labour from their supply chains.
Please click here to read the full article from CIPS