Thursday, 6 June 2013
SMEs Will Welcome Regulation Changes
The new proposals – unveiled by Business and Enterprise Minister Michael Fallon MP – aim to simplify compliance with regulations for small firms.
They are included in the Regulatory Policy Committee's Small and Micro Business Assessment, which aims to mitigate any disproportionate impact of regulation on SMEs.
Commenting on the report, Ian Greenaway, President of the Derbyshire and Nottinghamshire Chamber of Commerce, said: “Many small businesses will welcome this attempt to level the playing field for smaller firms which often don’t have the money or resources of their larger competitors to ensure they are complying with their industry’s regulations.
“If these proposals directly reduce the amount of time and money firms spend on fulfilling their regulatory obligations then it is a huge step in the right direction in terms of reducing the amount of needless red tape which strangles business growth.
“Small businesses are a significant driver of the economy but they do need an enterprise-friendly environment to be able to thrive, generate growth and create jobs and wealth. It is here where Government has a huge role to play in freeing them from the bureaucracy which prevents them from investing, exporting and recruiting.
“The Chamber hopes this policy will help to deliver significant reductions in the regulatory burden placed on smaller firms and provide a more commonsense approach to business regulation in general.”
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