Prior to the general election, David Cameron said that he aimed to make company formation the simplest process in Europe. He pledged to reduce bureaucratic red tape, streamline the complex tax system and introduce a ‘one in one out policy’ when it comes to adding new laws relating to business. But has he achieved his overall objective?
Well according to a survey of over two hundred business owners, apparently not. The survey, carried out by business insurers ‘Xbridge’ found that over sixty per cent of business owners felt that running a company in the UK was overly bureaucratic.
Laws relating to health and safety were said to be the most pointless and time consuming, while over twenty per cent of those asked felt that the government should review current regulations with a view to reducing the amount of bureaucratic red tape.