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Regulation & Red Tape

British business is feeling the pressure of an ever increasing burden of red tape. The British Chambers of Commerce seeks to influence the Government to reduce this burden as well as providing support and advice to help businesses to help them comply.

A Populus poll commissioned by the British Chambers of Commerce showed that regulation remained the number one concern for businesses ahead of education and skills and the UK’s tax burden.

The British Chambers of Commerce’s ‘Burdens Barometer’ calculates the cost to business of complying with everything from health and safety to employment regulation. It calculates the cost to business of complying with new regulation since 1998 as now standing at more than £55 billion, this has increased from £10 billion in 2001; £15 billion in 2002; £20.6 billion in 2003; £30 billion in 2004; £38.9 billion in 2005; £50.27 billion in 2007 and £65.99 billion in 2008.

For most businesses this figure does not just represent a direct financial cost, but lost man hours and resources. For smaller companies without in house legal teams or HR departments complying with regulation diverts time away from running a successful and profitable business.

This disproportionate cost to smaller businesses of new regulation is not yet fully recognised by government departments. Research carried out by the British Chambers of Commerce as part of our annual impact assessment audit indicates that as many as 8 out of 10 impact assessments assign the same cost to small businesses as to large.

As much as the increasing flow for businesses a huge concern can be the constant change of regulation. Chambers of Commerce can advise businesses directly or put them in touch with people that can through two schemes free to members Chamber HR and Chamber Legal Services. New regulations come into effect on two dates of the year the 6th April and the 1st October a full list of regulations scheduled for 2008 can be obtained from http://www.businesslink.gov.uk/bdotg/action/detail?type=ONEOFFPAGE&itemId=1075320304.

Other related links: ACTION ON REGULATION NEEDED TO CUT THE £40 BILLION EUROPEAN RED TAPE BURDEN TO UK BUSINESSES
[08/03/07 14:33]

The British Chambers of Commerce (BCC) is calling on the European Council to tomorrow make a genuine commitment to cut the burden of regulation on UK businesses.; RED TAPE FRIDAY TO HIT BUSINESS WITH 73 NEW PIECES OF LEGISLATION
[05/04/07 15:06]

The introduction of 73 new pieces of legislation tomorrow on Red Tape Friday highlights the ever increasing flow of new regulation.

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