SMEs call for red tape reduction

The vast majority of small and medium sized-enterprises (SMEs) are keen for the government to make a reduction in red tape its top priority.

Research from global insurer Zurich has shown that 70 per cent of British SME decision makers want to see the government to focus their attentions in this direction. This compares to 54 per cent who want improved access to finance to be the top priority and 36 per cent who are calling for a review of employment legislation.

Richard Coleman, director of SME at Zurich, commented: “Ensuring that Britain has the most accommodating regulatory environment for small businesses is obviously essential to helping SMEs grow, prosper and attract further investment at home in the UK and abroad.”

The research also found that the desire for red tape reduction varies across the country. In the north of England, 76 per cent of those questioned cited it as their top wish, while 74 per cent in the Midlands put it in pole position and just 60 per cent of businesses in London said it was a priority.

Mr Coleman added: “While most businesses would accept there’s a vital need for regulation in areas such as health and safety, UK SMEs are clearly looking for simplification to focus on what they do best – fuelling economic growth.”