SMEs need ‘common-sense approach’ to regulation

Commenting on the new Small and Micro Business Assessment, which has been announced by Michael Fallon today, Dr Adam Marshall, Director of Policy at the British Chambers of Commerce (BCC) said: “Smaller companies often find it difficult to comply with regulations, compared with their larger counterparts who have more resource. If this policy directly reduces the time and money that firms spend on needless bureaucracy, then the business community will show its support.

“Smaller businesses have the potential to become the wealth creators of tomorrow, but they do need an enterprise-friendly environment to be able to do this. Part of this is freeing them from red tape ,which prevents them from focusing on more important growth priorities, such as creating jobs and exporting their goods.

“We hope that this policy will help to deliver significant reductions in regulation and provide a more common-sense approach to regulation more generally. The BCC will keep an eye on this new policy over the coming months to ensure that it is actually making a difference to firms on the ground.”