According to a report by the Better Regulation Council small businesses have saved a whopping £2.9 billion a year in a Government drive to slash bureaucracy.
Despite this the Forum of Private Businesses (FPB) believes that more still needs to be done in order to slash the red tape. The minister for Business and Regulatory Reform, Ian Lucas, stated that:
“Delivering the right business environment to promote growth relies on creating a flexible regulatory framework that minimises costs to business but ensures essential protections and right are in place.”
Mr Lucas also commented that simplified, better regulation is now making that possible.
However, Matt Goodman of the FPB believes that small businesses are still experiencing too much unnecessary paperwork. He went on to say that they would argue that more fundamental regulatory changes are required to create real savings for small businesses.
Regardless of what the FPB’s or Mr Goodman’s personal thoughts on the matter are the fact remains that the government’s target is to cut the amount of administrative work for businesses by 25% by May 2010. This is expected to save a further £3.3 billion. The government has gone on to say that they have made further plans to save a massive £6.5 billion by 2015.
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