Red tape is a real bugbear for all small businesses in the UK.
The amount of regulations that firms need to abide by can be really prohibitive and it often gets in the way of growth.
That’s why I’m glad to see the interim results of the Company and Commercial Law Red Tape Challenge, which shows that 115 regulations relating to the day-to-day running of a company are being scrapped, merged or simplified.
It is hoped the move will free up time and resources for organisations to focus on their operations and attract new customers.
Business minister Jo Swinson noted that too often in the past firms have been “unnecessarily … tied down by red tape”.
However, this situation looks set to change considerably as the amount of time spent form filling is going to reduce dramatically and I’m sure this will make a big difference to a lot of companies.
Posted by the Secret Businessman