In a survey commissioned by Bibby Financial, small businesses have said that keeping up to date with Government ‘red tape’ is the biggest challenge facing them in 2005. Out of 300 business owners and managers surveyed, 71% said that the government is leaving small businesses tied up in ‘bureaucracy’ rather than improving business conditions. The figures are up by 28% on last year’s results.
The results of the survey come after the Prime Minister’s request in 2004, for the ‘Better Regulation Task Force’ to do a study to attain a better balance between establishing new regulation and abandon old proposals. He also asked for another study to tackle the onus of paperwork and form filling.
Our view
Looking at financial services as an example, Ashley Clark, director of , has said “The changes in financial services have created a quagmire, which sees me wading through 14 different types of initial disclosure documents that explains my role in the sale of products for each client.’ We are sure it is the same across other industries.