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businessupdate

News

Tuesday November 20, 2012

Dont get caught in the web think hard before you post
With the explosion of social media in all its myriad forms from Facebook to Twitter and snaps and clips on Smart phones, Ashley Harkus, partner at Newport and Pontypool solicitors Everett Tomlin Lloyd & Pratt, warns the unwary not to get caught in its potentially dangerous web...

Financially speaking

he recent high profile convictions of nine people for publishing the name of a sexual assault victim on a social media site together with other well publicised cases where potentially offensive tweets have led to prosecution, have brought the devastating consequences of posting certain ill-advised comments on Facebook or Twitter, into sharp focus. Social networking is playing an increasingly important and rewarding part in many peoples lives from the celebrity or footballer sending out a stream of tweets to connect with his fans to the man in the street posting a picture of his Movember moustache on Facebook. But using the medium to insult or upset can lead to disaster. The criminal courts are still grappling with how they should treat people who tweet questionable material. The Court of Appeal recently held that tweeting what appeared to be a poor joke about blowing up an airport was not an offence even though it may have been distasteful to some. However, blatantly breaking court orders or publishing material thats likely to cause distress, is still likely to lead to a trip to the

By Cennydd Thomas, of UHY Peacheys, Newport

During the recent recession, the Bank of Englands Monetary Policy Committee has been criticised by many commentators (myself included) for the apparent failure of their socalled quantitative easing policy. This is where the central bank injects new money into the economy. However the method by which this is done can lead to cash becoming trapped in larger businesses, as they are under no compulsion to spend this money. Recent studies have indicated a growing trend of larger companies hoarding cash due to a lack of investment and recruitment, which has consequently damaged the SME sector. It remains to be seen whether the Funding for Lending scheme makes any difference to funding conditions for small businesses. However if the government is serious about tackling the lack of liquidity then it might be better directly investing in infrastructure projects and wholesale supply side reform. QE had has led to a wider pool of large companies with cash reserves, who it seems are increasingly looking to make acquisitions. With P/E (price to earnings) ratios running at historically low levels, it could be said that there has never been a better time to buy a company. Indeed, the large number of SMEs without a viable succession plan in place has led to a buyers market, as retiring management teams look to offload to any willing buyer. If you are thinking of buying or selling a business and would like some advice then please get in touch on 01633 213318.

Social media has many benefits but while tweets can be entertaining and Facebook helps people say in touch, its always worth remembering that what may take seconds to type could come back to haunt you...

cells, and or a hefty fine and a criminal conviction. In the workplace, it is important to remember that given the popularity of camera phones and the availability of YouTube, what may seem like high jinks or banter at the office Christmas Party could and will be seen and heard, at a later stage, by a wider and far more sober, far less amused audience. Your spouse or employer may not look kindly on an attempt to rely upon intoxication as a defence! Most employees are now aware that their employers have published policies about the use of the internet and social media during or even out of office hours. The huge popularity of Facebook has resulted in dismissals for comments posted by people in their own time and often in their own homes. Recently a prison officer was sacked for making Facebook friends with inmates

and 13 members of a major airline cabin crew were dismissed for describing their passengers as chavs. Any employee breaching their employers published social media policy and making offensive comments in office hours or not, will obviously be at serious risk of disciplinary action. Facebook is also having an impact on family life. A recent survey suggested that as many as one in five divorce petitions involved a reference to Facebook. Family courts have taken into account evidence and comments obtained from social networking sites when considering child custody or contact decisions Social media has many benefits but while tweets can be entertaining and Facebook helps people say in touch, its always worth remembering that what may take seconds to type could come back to haunt you and have a far longer lasting impact than you expected