Red Tape 7 Hour Week for UK SMEs

Red tape costs UK small business seven hours a week.

By News Desk
1st October 2007 at 13:33

According to the latest data from the Federation of Small Businesses (FSB), small firms spend an average of seven hours a week dealing with regulations and paperwork.

The FSB believes that not only would a reduction in red tape, something that’s often promised and rarely delivered, help small firms grow, but would also allow them to participate more effectively in their communities and in delivering training.  FSB research reveals SME would use the ‘lost’ seven hours a week as follows:

  • 58% of business owners would spend time training staff or working with schools;
  • 50% would spend more time developing their business ;
  • 39% of business owners would devote more time to their local communities;
  • 37% would like to spend more time with their families.

Meanwhile the EU is expected to announce later this week a raft of small business initiatives, including deregulation.  Some, however, like the Association for Competitive Technology (ACT), are doubtful that these policy papers will presage much real action, particularly when it comes to reducing the regulatory burden and improving access to the European patent system.

It’s estimated that a concerted effort to reduce red tape could result in gain of 150 billion euros across the EU.

Commenting Is Easy

Do you have an opinion on this news item? Have something to add that others might find helpful? Then please leave a comment in the box below.

If you'd like to have your image included next to your comments here, then you can set yourself up with an avatar in just a couple of clicks.

Leave a comment

Related Posts

Photostream

Listen to the sales podcast for SMEs Subscribe to the podcast on iTunes

BUSINESS PODCASTS

Click on one of the play buttons to listen to inspirational interviews with entrepreneurs from SmallBizPod.

SmallBizPod #99 - interview with Tanya Wheway, chairman of Wheway Lifestyle International

SmallBizPod #99 - interview with Tanya Wheway, chairman of Wheway Lifestyle International

PostedDetails | PostediTunes
play small business podcast now
SmallBizPod #49 - Jason Calacanis podcast interview

SmallBizPod #49 - Jason Calacanis podcast interview

PostedDetails | PostediTunes
play small business podcast now
SmallBizPod #70 - Jagriti Yatra - a great entrepreneurial journey

SmallBizPod #70 - Jagriti Yatra - a great entrepreneurial journey

PostedDetails | PostediTunes
play small business podcast now
SmallBizPod #59 - Food entrepreneur Charlie Bigham

SmallBizPod #59 - Food entrepreneur Charlie Bigham

PostedDetails | PostediTunes
play small business podcast now
SmallBizPod #85 - interview with Tristram Mayhew the GoApe entrepreneur

SmallBizPod #85 - interview with Tristram Mayhew the GoApe entrepreneur

PostedDetails | PostediTunes
play small business podcast now
SmallBizPod #65 - David Wei, CEO of Alibaba.com

SmallBizPod #65 - David Wei, CEO of Alibaba.com

PostedDetails | PostediTunes
play small business podcast now

PARTNER PROMOTIONS

If looking to boost your businesses performance with promotional marketing, travel incentives or incentive schemes get it touch with NDL Group