Friday, 24 June 2005
Red tape damaging entrepreneurial spirit
A further ten per cent of business owners would be unlikely to start another firm if the opportunity arose because of the amount of red tape involved.According to figures from the British Chambers of Commerce (BCC), legislation has cost businesses £39bn since 1998."The Government needs to cut regulation and allow owners to be free to run their businesses. It has been active in stating its objectives to cut regulation, but nevertheless there is still more red tape coming in," BCC's regulations policy adviser, Lewis Sednick, warned.He also called on the Government to stop changing regulations, which make it difficult for small business owners to keep up."We support maternity leave, for example, but we think there have been too many changes, too frequently," Sednick continued.However, he urged entrepreneurs not to be dissuaded from setting up a business in the UK."The UK is still a good place to do business and our economy is getting stronger. The Government needs to stop making it harder for business owners though - we don't want to chip away at our competitive edge."
- To see a copy of the Sage survey visit www.sagepresscentre.co.uk/heartbeat
(c) Business Hotline Publications Ltd 2005Back