Business owners to face less bureaucracy

Business owners and those planning to start up their own companies will face less bureaucracy under new red tape rules being introduced by the government.

From September 1st this year, a new one-in-one-out system of regulation will be introduced to burden on small businesses.

Each time new regulation is introduced, ministers will have to reduce or cut existing regulations with an equivalent value.

Business secretary Vince Cable said: "We have to create a common sense approach in the way we think about new laws.

"By ensuring regulation becomes a last resort, we will create an environment that frees business from the burden of red tape, helping to create the right conditions for recovery and growth in the UK economy."

According to research by the Federation of Small Businesses, one-third of small firms believe regulation was the biggest barrier to growth last year.

Of those that wanted to expand, some 27 per cent said proposed increased in regulation were preventing them from doing so.

Posted Christopher Evans

Published on: August 6, 2010

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