Red tape hinders plans for job creation in half owner-managed businesses
Almost half of owner-managed businesses say the growing burden of red tape is harming plans for expansion and job creation, according to a survey by Kingston Smith.
Almost half of owner-managed businesses say the growing burden of red tape is harming plans for expansion and job creation, according to a survey by Kingston Smith.
The survey revealed 43% of OMBs thought red tape was harmful and companies had little confidence in the government’s pledge to reduce the burden with 92% of firms expecting it to increase over the next 12 months.
Senior partner Michael Snyder said: ‘Small and medium-sized companies clearly view the UK’s red tape burden as a hindrance to job creation and a restraint on growth. Companies are very sceptical as to whether the government’s stated aim to reduce red tape will be translated into reality.
‘The chancellor needs to use the forthcoming Budget to take concrete steps to cut the existing bureaucratic burden on businesses.’
According to Kingston Smith, not only does red tape discourage firms from expanding their workforce, it is also a major factor in encouraging entrepreneurs to get out of business.
Rover blasts German accounting rules as accountant takes the reins
The numbers you crunch tell a story. Your expertis...
24yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleGlobal spend on accountancy outsourcing up by 40% in the space of five years. News comes as accountancy outsourcing specialist AdvanceTrack reports en...
View articleFollowing a profitability review, Deloitte has decided to scale back its UK deals business due to lower returns. This strategic shift could lead to jo...
View articleUK-based Dow Schofield Watts (DSW), a mid-market professional services network, announced the creation of a new division called DSW Principal Partners...
View articleEY has been undergoing significant cost-cutting measures and streamlining its operations since the abandonment of Project Everest. The firm has made t...
View articleTransitioning from an accounting firm to a consultancy model is only one part of the puzzle. The next, equally vital piece is making the market aware ...
View articleThis framework, while providing a top-line view, underscores the importance of strategic vision, operational excellence, and the spirit of continuous ...
View articleLooking ahead, the Big 4 firms face a challenging year, with ongoing cost-of-living concerns, slow economic growth, rising geopolitical tensions, and ...
View articleLast month it was reported that Deloitte would be cutting approximately 1,200 jobs in the United States, making it the latest of the Big Four accounti...
View article