Small Business Bound by Red Tape
91% of the UKs small and medium-sized businesses believe red tape has increased or stayed the same over the last 12 months, according to a survey by Bank of Scotland
18th May 2005
A survey by Bank of Scotland Business Banking has revealed that over 9 out of 10 small and medium businesses believe that red tape has increased or stayed the same over the last 12 months.
The research suggests that 58% believe that time spent dealing with red tape has increased over the last year, a figure that rises to 69% if based on the last 5 years. Just 2% think red tape has actually decreased over the year.
74% reckon that matters won't improve, with red tape continuing to increase.
Almost three quarters of business owner-managers spent up to 10 hours a week dealing with it, with business tax, health and safety, and business rates being some of the most disliked sources of regulation-related work.
Read More: Bank of Scotland Press Release
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