Small firms ‘still bogged down by red tape’

Government red tape is the one of the biggest challenge businesses have had to face throughout 2007, according to new research published by Bibby Financial Services.


Government red tape is the one of the biggest challenge businesses have had to face throughout 2007, according to new research published by Bibby Financial Services.

Government red tape is the one of the biggest challenge businesses have had to face throughout 2007, according to new research published by Bibby Financial Services.

The organisation indicated that 43 per cent of companies in the UK cite regulatory burden as having been the biggest hurdle during the year, Onrec.com reports.

And as 2007 draws to a close, the survey shows that the primary concern for 47 per cent of businesses in 2008 is how to increase sales turnover.

David Robertson, chief executive of Bibby Financial Services, said: “It’s clearly been a tough year for the small business community with no let up in the amount of government red tape that they have to deal with, but things are definitely on the up.”

However, he added that managers may be able to focus on “maintaining and growing their profit” following suggestions that the government is to ease the regulatory burden.

Mr Robertson’s comments were in reference to the recent Queen’s Speech announcement, which proposed a Regulatory Enforcement and Sanctions Bill to help people in industry, including those selling a small business.

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