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Medical sector has the third highest number of businesses currently for sale, with hospitality and retail technology firms most likely to sell up next year, according to the UK Business Investment Report. There are 4,300 registered medical businesses in the UK, and approximately 355 (one in every 12.11) are currently up for sale. Topping the list was the hospitality sector with one in every 9.88 businesses up for sale, ahead of retail technology businesses (1 in 10.13). At the bottom of the table were owners of agriculture businesses with just one in every 943 businesses up for sale. Transportation and software/IT business owners followed in a similar manner with one in every 802 businesses being up for sale.

Businesses have a responsibility for the safety of their employees, as well as visitors that are on their premises. If an injury occurs on their property, a company can be held responsible. There are various issues and rules that may apply, so it is important to know the facts regarding such situations. Here are 4 impacts legalities to consider for your business when dealing with such incidents. STATUS OF ENVIRONMENT AND RESPONSIBILITY OF PREMISES When you are looking into injury cases that occur and involve the premises or property of a business, one of the most important aspects to consider is the status of the property itself. All property that has access to the public owned by an individual or business must be maintained in a manner that is safe for people to reasonably move around. This is often associated with sidewalks and pathways, as well as corridors, hallways, and various rooms in businesses. You must ensure that areas where people may be around are safe such as ensuring no water or substance is present on floors that would cause falls or slips, and otherwise having the signage to indicate the need for caution. This is not limited to people, but can also apply to vehicles and equipment, ensuring oil stains and spills do not endanger the operators and employees in the area. Businesses should recognize any risks that are present and also be mindful to address environmental concerns in the immediate area as they are made aware of them. If a business fails to address such potential dangers, they are indeed potentially liable for any injuries and health concerns that come as a result of willful ignorance of the situation.

The pharmacy business is one of the most profitable businesses on the planet. However, the trends are changing and as we move forward in this digital world, we see a transition from traditional business practices to modern and digital business practices that change the whole scenario. In this era of advanced technology, if you don't keep up with the world, you lose the race. It is a fast-paced world where trends change every day, something might work today but it won't work tomorrow, it will be replaced with something better and more efficient whether it is a tool, a technique, a marketing strategy, or a manufacturing process. Everything is being replaced with better alternatives more than ever. Now it is time to realize this change and bring some new guns to your business arsenal. You can employ an auto attendant for your pharmacies, or build a website for online orders and deliveries. Online pharmacies are getting popular a lot and they are the future. Here are a few tips and tricks that you can use to run your pharmacy business like a pro.

In a long scripted overhaul of its business, GlaxoSmithKline spun off its consumer health business on Monday (July 18) in the biggest listing in Europe for more than a decade. The new company, Haleon, becomes the world's biggest standalone consumer health business, home to brands including Sensodyne toothpaste, pain relief drug Panadol and cold treatment Theraflu. Shares in Haleon started trading at 330 pence on Monday morning, giving the business a market valuation of around £30.5 billion - dashing high hopes for Haleon's much higher market valuation after GSK in January said it had rebuffed a £50 billion offer from Unilever on the basis it was too low. The major strategy shift by GSK chief executive Emma Walmsley to focus on the company's core pharmaceuticals business comes after she faced intense activist shareholder pressure over its delays in producing Covid jabs and treatments.

Drugmaker Viatris said on Sunday (October 1) it had reached agreements to divest some of its businesses for a total of about £2.9 billion. Viatris said its move to divest some of its businesses is part of its long-term strategy to streamline focus on three core therapeutic areas - ophthalmology, gastroenterology and dermatology. The company has received an offer of about $2.17 billion (£1.78 billion) for almost all of its over-the-counter drug business from France-based Cooper Consumer Health. Viatris will retain rights for erectile dysfunction drug Viagra, nasal spray Dymista and select OTC drugs within certain markets. Separately, the drugmaker said it has agreed to sell its women's healthcare business to Spanish pharmaceutical company Insud Pharma, while its active pharmaceutical ingredients business in India will be sold to Iquest Enterprises. Both divestitures would result in about $1.2 billion (£987 million) in proceeds.

Water is the lifeblood of any business - employees must stay hydrated and productive, and it's needed for many industrial processes. That's why businesses need to filter their water and remove any harmful contaminants. Here are six major reasons why businesses should filter their water. HEALTH HAZARDS Unfiltered water can contain harmful contaminants like bacteria, viruses, and parasites that can cause serious health problems. If these contaminants get into the water supply, they can make employees sick and lead to absenteeism. In some cases, these contaminants can even be deadly. Therefore, if you notice that your employees are getting sick more often, it could be because of the water they're drinking. Other signs could be discolored water, strange taste or odors, or water that contains sediment. Regular water testing and investing in a quality water filtration system can help to remove these contaminants and keep your employees healthy. On the other hand, there are regulations and guidelines in place to make sure that the water supplied to businesses is safe. The Environmental Protection Agency (EPA) regulates public drinking water, and businesses are required to follow these regulations.

The 21st edition of the Pharmacy Business Awards have been postponed due to a dramatic rise in the number of Omicron cases nationwide in recent months. The in-person event - initially scheduled to be held on February 3 - will now be held on Wednesday March 23 in central London. The awards dinner hosted by the Asian Media Group - owners of Pharmacy Business - was initially scheduled to be held on February 3. "Given the uncertainties around Omicron and the impact it could have on our community, we have taken the difficult decision to postpone the twenty-first edition of the Pharmacy Business Awards," an AMG spokesperson said, adding: "We feel this is the best and safest decision for our award winners, guests and partners."

The strength of any organisation lies in its people. This being a common norm in the world of business, several of them are taking healthy initiatives and opening discussions around gender diversity and equality. Panelists during a session on Empowering Women In the Workplace held during the Pharmacy Business Diversity Conference on Thursday (December 9), agreed that having gender diversity in business, not just benefits women, but the whole organisation. "It drives engagement, diversity of thinking and ultimately performance," said Ifti Khan, pharmacy superintendent at Well Pharmacy, in the session moderated by the conference chair and BBC presenter Clive Myrie. To substantiate his point, he cited a recent report by McKinsey & Company, as per which companies in the top quartile for ethnic and cultural diversity are 36 per cent more profitable than those in the fourth quartile.

A community pharmacy, Barton Pharmacy located in Woolacombe, Devon has been sold to a local pharmacist and its previous employee, Harminder Chaggar, announced Christie & Co. The business has been owned by Mr Osman Hamid for the last seven years and was brought to market to allow him to concentrate on his other business interests. Barton Pharmacy is dispensing an average of 2,440 items per month. It lies completely unopposed in the highly desirable North Devon coastal village of Woolacombe, in an Area of Outstanding Natural Beauty, and is an ever-popular holiday destination which boasts 'Beach of the Year 2021' as voted for by The Sunday Times. Osman Hamid, previous owner of Barton Pharmacy, comments, "Owning this business for the last seven years has been an enjoyable experience, as we have had full support from the NHS as it has an attached LPS contract and receives an overwhelmingly generous OTC income which is more than the average pharmacy. The business has huge potential to grow and diversify into other avenues that are yet to be explored, and it is lovely to know that it has been passed onto a new owner operator that I trust will do well with the business moving forwards."

Specialist business property adviser, Christie & Co has confirmed that City Pharmacy in Portsmouth, Hampshire has been purchased by the existing regional operator, JCL (U.K.) LTD - Lalys Pharmacy. Nyewood Healthcare, which owned the community pharmacy for over 25 years, decided to sell the business to concentrate on their two remaining pharmacies in West Sussex, the broker said. Located on a busy parade in the North End area of Portsmouth, City Pharmacy dispenses an average of 6,900 items per month, it added. Following a freehold sale, the business has been acquired by Lalys Pharmacy, which already has multiple other pharmacies in Hampshire, Dorset, and Surrey. Raj Laly, Director at Lalys Pharmacy, commented: "We are delighted to continue the expansion of our group in Portsmouth as we currently operate right across Hampshire, Surrey, and Dorset.

The PDA has raised concerns over the 'deliberate breaches' of the NHS contract by some community pharmacy businesses, saying that it may cause harm to patients and damage the reputation of the profession. The organisation said concerned pharmacists have revealed to them that some businesses are now explicitly saying that if locums will not agree to work for less than a so-called 'maximum' hourly rate, the business will close the pharmacy for either part of, or the whole day. Some of these full or part-day closures are being communicated significantly in advance of the actual day, it added. The union further alleged that several pharmacy businesses seem to have simultaneously implemented identical so-called 'maximum rates' in what could be an anti-competitive behaviour.

NHS England has mandated a business continuity plan for pharmacies dealing with temporary closures from the end of this month. Community Pharmacy England (CPE) has put together a briefing and a template plan to help guide pharmacy owners through the process. It explains what is required in the plan, describes how and when to implement it, and outlines some additional considerations. "This could be added as an annex to your pharmacy's existing business continuity plan. A checklist has also been added, which may be used in the event of a temporary suspension," said CPE. "NHS England will be publishing the approved particulars shortly. NHS England is also still to publish guidance on the amendments to the Pharmaceutical Regulations that came into force on 25th May, which will include guidance on these requirements.

Pharmacy Business will be hosting their annual awards event in the pharmacy calendar with a glittering ceremony to celebrate the very best of community pharmacy. The 23rd edition of the Pharmacy Business Awards will be on Wednesday 4 October 2023 in central London. The awards attract the biggest names in pharmacy, with heads of pharmacy organisations, CEOs of leading manufacturers and wholesalers, health officials and government ministers in attendance. We look forward to bringing together the shining lights of community pharmacy, who show the nation the unique services they continue to provide. REASONS TO ATTEND Understand what the ambitions of the NHS and PSNC are for the future of community pharmacy Understand why its important to develop a wider range of health services Learn how others are achieving this and what the benefits can be Learn what the benefits of embracing technological innovations are Hear what others are doing and what the benefits are to their business Network with and learn from your peers in community pharmacy WHO SHOULD ATTEND? Pharmacy owners Pharmacy managers Other pharmacy stakeholders Exciting news! Pharmacy Business Awards 2023 are just around the corner!

The VAT penalties regime has had substantial changes with effect from 01 January 2023 and it is important for community pharmacy business owners to take note as this is a crucial cash inflow for most. Below we explore the changes that will impact all VAT registered community pharmacy businesses. Old regime Prior to 01 January 2023, VAT registered businesses that failed to file their VAT returns or pay any VAT liabilities would be subject to the default surcharge regime. There would be no surcharge for NIL or repayment VAT returns which would apply to most community pharmacy businesses. New regime For VAT periods starting on or after 01 January 2023, the default surcharge will be replaced by a new VAT penalties and interest regime if you submit your VAT returns late or pay your VAT liability late. If you pay your VAT monthly or quarterly, the deadline for filing your VAT return and paying any VAT liabilities is one calendar month and 7 days after the end of the respective period. For example, if you are filing the VAT return for the month or quarter ended 30 June 2022, the deadline for filing will be 07 August 2022. The liability must also be paid and cleared by that date.

What skills does a pharmacist need these days? You'd think it would be sufficient to have a good understanding of pharmacy and the ability to offer a great patient service. Whilst this is true of course, the reality of the day to day role demands skills which most pharmacists have not been trained for as part of their formal qualification. At the very least, pharmacists find themselves responsible for running the pharmacy, managing people, managing processes and dealing with issues relating to customers, suppliers, surgeries, regulators and stakeholders. Even the most junior pharmacists quickly find themselves being accountable for the financial performance of their department and having to work within budgets or deliver on targets. Remarkably, despite the apparent lack of any formal training in these areas, pharmacists have been able to adapt and meet the challenges of whatever their job has thrown at them. Many pharmacists go even further, bringing out their inner entrepreneurial spirit to set up their own business. There are now over 6,000 pharmacy businesses owned by independent pharmacists, with this segment growing. Whilst pharmacists have historically adapted to their environments and picked up the necessary business skills, the rapidly changing landscape of pharmacy will require pharmacists to establish new skills to help ensure their businesses survive and thrive.

The Pharmaceutical Services Negotiating Committee (PSNC) chief executive Janet Morrison has assured contractors that PSNC will continue to raise with the new prime minister all concerning issues that are bothering pharmacy businesses. She felt the "fixed five-year funding settlement that is declining in real terms" was one of the serious factors that is putting a lots of pressure on contractors. PSNC has provided a compelling portfolio of evidence on the impact that pressures are having on the sector, and requested urgent additional funding, she said. Morrison, in her video message shared yesterday (August 24), urged contractors to keep sharing and sending evidences to act on their behalf. She said she is aware "this one of the toughest periods for the businesses" and "I believe that it demands more action from the government." Morrison assured the sector she was aware that contractors were also facing difficulties in "dealing with global medicines market and the challenges on been able to procure medicines within the drug tariff." "I know how hard it is to see the future sustainability of your businesses. I can see you are facing serious workforce pressure, rising cost, shortage of pharmacists, inflation pressure. I know your using facing increase in demand from the patients who has given up on their GPs and turning to you for support and advice."

Businesses, including community pharmacies, that handle cash have been urged to prepare for the removal of £20 and £50 paper banknotes from circulation. The paper notes of both denominations will no longer be legal tender from Friday 30 September. Cash handling experts Volumatic reminded businesses to make sure that they deposit any paper notes at banks by this date, and ensure they would not be accepting any further paper notes from customers from 1 October onwards. "While businesses continue to face extra demands during the current cost-of living crisis, we've already seen evidence of an uplift in cash usage by consumers, who are now using cash more to help them budget more effectively," Mike Severs, Sales and Marketing Director at Volumatic, said. "With more consumers looking to spend their old paper notes before the end-of-September deadline, it's really important to remember to deposit any paper notes you either already have within your business or receive throughout this month to your bank before the end of September."

DE Group, one of the UK's leading independent pharmaceutical wholesalers, has gone into administration. Pharmacy Business has learnt that the group was put into administration on Monday (May 9), putting hundreds of jobs at risk and stoking fears of a "sudden shock" to pharmaceutical supply chain. A community pharmacy contractor who has done business with the wholesaler for over 20 years told Pharmacy Business: "I fear for the worst. I don't think there will be enough supply of medicines to cope up with a surge at such a short notice." Bharat Shah, founder and CEO of Sigma Pharmaceuticals, another leading short-line wholesaler, said the news will send shock-waves and have "a massive impact on the market" because DE Group enjoyed a "substantial coverage and market share" in the independent pharmacy sector. "It won't be easy for anyone to take on the extra volume as it could jeopardise their own business," he said, adding that Sigma was actively looking into expanding its own operations in the foreseeable future.

Pharmacy Business will be hosting their annual awards event in the pharmacy calendar with a glittering ceremony to celebrate the very best of community pharmacy. The 23rd edition of the Pharmacy Business Awards will be on Wednesday 4 October 2023 in central London. The awards attract the biggest names in pharmacy, with heads of pharmacy organisations, CEOs of leading manufacturers and wholesalers, health officials and government ministers in attendance. We look forward to bringing together the shining lights of community pharmacy, who show the nation the unique services they continue to provide. All entries must be made on the official online entry form. Please select from the award categories by expanding the drop-down boxes below then click 'Enter now' by selecting the category you would like to enter. You can enter three categories. To complete your entry, agree to the terms and conditions then click the 'COMPLETE' button at the bottom of the page. All submissions must be made by Monday 7th July 2023. Please note only submitted entries will proceed to the judging stage. Nomination date 7th july 2023

The primary responsibility of community pharmacists is taking care of their patients but to do that they also need to learn how to run the business. It is one thing to be au fait with profit and loss statements, reimbursement models, budgets analysis, business planning and so much more but quite another when one is hard pressed on everything - time, resources and cash flow. Bas Vorsteveld - the new vice president and general manager in Great Britain & Ireland for Haleon, a new company 100 per cent focussed on consumer healthcare - has witnessed first-hand how "time poor" pharmacists usually are and is committed to helping ease their burden wherever possible. "They can be drowning in work at all times throughout the day. If I happen to spot a community pharmacy while I am out shopping with the family, I almost always pop into the store, with obviously a lot of questions in my head. If the pharmacist has the time, I ask them a few questions and once we start the conversation and they find out that I'm the general manager for a company that provides them with some of their big brand products, I often get a look of total surprise on their face, especially as I've come to visit their store and take the time to speak with them personally. I've really seen first-hand what a busy bunch they are! "I often want to know how the shop front is presented? What does the pharmacy look like from inside? Is there a big queue? What kind of advertisement the pharmacy has in place? How are our products merchandised?