Business Regulation & Red Tape
All companies, no matter how large or small, suffer from having to deal with large quantities of paper work, regulation and record keeping. The Government has recognised the increased burden (particularly on small businesses), but its attempts to address the problem only resulted in another three pieces of regulation: the Regulatory Reform Act 2001, the Legislative and Regulatory Reform Act 2006 and the Regulatory Enforcement and Sanctions Act 2008. It can be hard running a business and trying to keep up with the latest set of regulations.
Articles:
- Pocket Guide to Data Protection Law)
- Waste, Electrical & Electronic Equipment Regulations
- Running a Competition
Bite-Size Guide:
Regulation and red tape has risen rapidly over the past decade in the form of new health and safety regulation, employment regulations as well as accounting and financial record keeping. A Populus poll showed that regulation, despite some attempts from the Government to limit its effects, remains the number one concern for businesses ahead of training, skills and taxation.
The estimate of the man hours and fees spent by companies on regulatory issues has risen from £10 billion in 2001 (at today's prices) to £66 billion in 2009. The real issue for most companies, especially small companies, is not the financial burden so much as the loss of valuable man hours spent on 'red tape' instead of promoting their business.
People who read this also read:
- Franchising
- Starting a business
- Shareholders Agreement