Currently small businesses are expected to cover bank holiday pay for employees. There needs to be a benefit available for those 8 days a year where employers do get into financial difficulties and risk going into administration. This should be compulsory for small businesses of 5 employees or less
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Employers of small businesses are expected to pay 28 days holiday a year, 8 of which are bank holidays. That increases financial pressure for businesses to cover the cost of these days especially if they are not able to trade during the bank holiday. Employers need be able to claim a business credit to cover the cost of these difficult periods which are unavoidable and cause financial hardship to employers. Many businesses experience this as a difficult time forcing them into administration.