|
The Better Regulation Executive voiced its commitment yesterday, to remove as much of the red tape as possible that is hindering small and medium sized businesses in the UK.
A reduction in the number of red tape measures would serve to encourage entrepreneurs to establish new business start-ups and make it easier for other businesses to expand, the Executive said.
Red tape has long been considered a significant obstacle to the development of UK businesses, with many company directors citing their disapproval of time consuming company legislation.
According to a Sage Heartbeat Survey which surveyed over 2000 businesses, 46 per cent of business owners said that they would not start up a business again due to the current amount of red tape involved.
It is estimated that bureaucracy and regulations cost the average UK business about £3 billion every year.
William Sargent, executive chair of the Better Regulation Executive said: "We are in a pretty good situation in the UK…we are in one of the best places in the world to start and grow a business – although thats not a reason for complacency.
"Its a pretty vibrant economy and anything we can do to remove barriers and make things easier [is what] this is all about."
See copyright notice
| Other
Top Business News Stories |
|
Business
News 
