red tape

Red Tape Holding Back Small Business Growth

Red Tape Holding Back Small Business Growth

UK small businesses are struggling to dedicate time to achieving growth, because red tape and regulations are taking up too much of their time. In a study of 500 small firms by instantprint, respondents were revealed to have spent over 25% of their working week completing admin – instead of looking to expand the business. In contrast, 10% of those surveyed spend less than an hour a week attempting to increase profit, while 8% struggle to find any time whatsoever. When asked about what regulations give business owners the biggest headache, employment law surrounding working hours and holiday allowance was highlighted as significant blight on work efficiency, followed by invoice processing and managing customer service. In terms of solutions, recruitment seems to top the list of small firm o... »

Government Plans to Investigate Red Tape “Stifling” British Businesses

Government Plans to Investigate Red Tape “Stifling” British Businesses

Employment rules that could be ‘stifling British entrepreneurship’ by preventing employees from starting up their own business after leaving a job are to be investigated, business secretary Sajid Javid has announced. Businesses across the UK are to be asked their views on ‘non-compete clauses’ among other employment related issues in a government effort to back small businesses and entrepreneurs. The research will also contribute to the government’s ‘Innovation Plan’ – which is focused on promoting high tech business and advanced manufacturing ‘Non-compete clauses’ can be written into employment contracts and can prevent individuals from competing against their former employer or working for a competitor for a set period of time, sometimes up to nine months after leaving a firm... »

Government to Cut Small Business Red Tape by £10bn

Government to Cut Small Business Red Tape by £10bn

Business secretary Sajid Javid will announce the government’s plans to cut red tape by at least £10bn today (May 19) in his first speech since being appointed to his new position. The red tape reductions are to take place over the next five years as part of the New Enterprise Bill and will help boost small business growth and create more jobs, according to the department for business, innovation and skills. The speech, which will take place at Engine Shed business centre in Bristol (the city where Javid grew up), coincides with the EU Commissions’ announcement to cut EU red tape and will include the government’s plans to tackle business payment issues by introducing a Small Business Conciliation Service to help settle disputes over late payments. The former culture secretary’s statement co... »

Half of UK Small Businesses Predict Growth in 2015

Despite confidence, significant percentage of small and medium firms worried red tape and skills shortage will hamper potential Small and mid-sized business confidence is on the rise, according to a new survey, with 50% of business owners predicting an increase in turnover and 21% expecting to recruit more staff in the next 12 months. Despite the positive outlook, the survey, released by energy company npower and featuring a 1,000 small and mid-sized firms, revealed that businesses remain concerned that growth could be delayed by external factors such as a skills-gap, access to funding and government regulation. Nearly half (49%) of the respondents stated that they were worried about the negative effect red tape and legislation could have; 47% of the entrepreneurs stated that lack of bank ... »

Small Business Survival Rates Reach 10 Year Low

Majority of small businesses fail to survive over five years with 55% stating it has never been more difficult to grow in the UK New research has declared 55% of small and mid-sized businesses are failing to reach the five year mark; with 68% finding it difficult to grow their business due to bank lending, tax breaks and business rates barriers. The research, released by insurance broker RSA, revealed that despite an overall improvement in the economy, business survival rates have decreased since 2004 with the construction industry performing the worst (survival rate of 44%) followed by the health sector (56%). The report, titled Growing Pains, also looked at business growth potential and identified the leading barriers to it. 61% of small and medium-sized firms lack confidence in their bu... »

Small Businesses Go Green to Boost their Bottom Line

…but see tax and red tape as barriers to environmentalism Small businesses believe going green can boost their bottom line – but see tax and red tape as major barriers to becoming more environmentally friendly, according to Forum of Private Business research. Just 10% of business owners responding to the Forum’s latest environmental panel survey have done nothing to reduce steep utilities costs while 41% have streamlined business processes, 28% have reduced energy usage and the same number have embraced more energy efficient equipment. While 77% of respondents disagree that being green is impossible in the present economic climate 52% argue that green taxes inhibit their ability to invest in reducing energy use and 75% believe that environmental legislation focuses on the... »

Cost of Red Tape Reaches £16.8 billion Despite Reforms

Research carried out by the Forum of Private Business has found that small firms are spending more time and money on complying with regulations – £16.8 billion per year to be exact – despite the Government’s legislation-busting initiatives to date (Such as the Red Tape Challenge) In all, 84% of Forum members reported an increase in time spent complying with legislation since 2009, when the not-for-profit organisation’s previous ‘cost of compliance’ Referendum survey took place. Further, 67% of respondents are being forced to spend more money on external consultants to help them avoid legal pitfalls. Based on data provided by members who took part in the survey, the total annual cost of compliance for the UK’s smaller employer is £16.8 b... »

Small Businesses Should blow the whistle on Red Tape

Small-business owners have been called on to “blow the whistle” on excessive red tape following the launch of a new Government initiative. Part of the Government’s Red Tape Challenge, the scheme invites small firms and their staff to come forward with real-life examples of how multiple inspections and conflicting advice might be getting in the way of running a business. Business minister Mark Prisk said the Government had already taken steps to “reduce the burden that regulation places on our businesses,” but admitted more needed to be done. “Inspections and enforcement are the most noticeable way in which business experiences regulation. The Red Tape Challenge has already highlighted a number of ways in which compliance problems are getting in the way o... »

Government Funding Boost to Apprenticeships

The Government must cut the red tape involved with taking on apprentices — that’s the message from business groups, after the Prime Minister announced plans to increase apprenticeships and work placements. Over the next four years, up to 250,000 more apprenticeships will be funded by the Government, along with 100,000 work placements over the next two years. Prime Minister David Cameron said that the Government would need support from businesses, adding that widespread youth unemployment was holding the country back, saying: “I’m delighted that over 100 large companies and tens of thousands of small and medium-sized enterprises have already responded to our call for work experience placements so that tens of thousands of young people can take those vital first steps in experiencing t... »

IoD: Moratorium on Red Tape not enough

The Government’s pledge to exempt the smallest businesses from new domestic regulations doesn’t go nearly far enough, the Institute of Directors (IoD) has said. The Chancellor confirmed in the Budget that the Government is introducing a three-year exemption from all new domestic regulation for small firms with fewer than ten employees, and will open a consultation on how this will be introduced. The IoD said that there was a danger that these micro businesses would be hit with an unmanageable red tape burden after the moratorium is removed. The business group also said it was “disappointed” that the moratorium on red tape was only temporary, applies to only the smallest firms, and does not tackle existing administrative burdens. “Over time, the Government needs to make the exemption ... »

Page 1 of 212