Despite Britain's economy being one of the most open and competitive in the world, most UK businesses still feel they are hampered by red tape and outdated bureaucracy, which gets in the way of efforts to grow their business.
A government report released today claims red tape has been slashed for businesses by over 800 million over the last year and that many practical initiatives are helping to lighten the load on businesses.
Measures include halving the number of health and safety forms businesses have to fill in, speeding up the approval of planning applications and no longer requiring companies to hold an AGM or hire a company secretary.
Breaking it down on a regional level, the saving to businesses in the North East works out at around 20m. Savings for the east of England are estimated at more than 89m, with the biggest savings of 142m in the South East
This sounds like it should be welcome news to business, particularly given the uncertain times many firms are facing, with a fall in interest rates and uncertainty in the property market. But just how is it making a difference on the ground, and are business noticing a difference?
Government slashes 800 million in red tape for businesses
Despite Britain's economy being one of the most open and competitive in the world, most UK businesses still feel they are hampered by red tape and outdated bureaucracy, which gets in the way of efforts to grow their business
