Regulators failing small firms, says taskforce
Policy makers are ignoring government guidance to 'think small first' when drafting regulations, according to research from the Better Regulation Task Force.
Policy makers are ignoring government guidance to 'think small first' when drafting regulations, according to research from the Better Regulation Task Force.
In a report published today, the taskforce says the impact of regulation of small businesses is not sufficiently recognised by policy makers.
‘Regulations frequently put small businesses at a disadvantage against larger competitors and impact disproportionately on them,’ said task force chairman Lord Haskins.
‘Too often, departments underestimate the impact of their decisions on small businesses. We want to see better consultation and clearer assessments of the likely impact of regulations.’
Research by the task force has indicated that more could be done to help small firms comply with regulations, including better information, simplified procedures and compensation.
The report also says there information for small firms about their obligations is often difficult to obtain and is too general. It also says lack of joint working between government departments does nothing to mitigate the impact of separate regulations on businesses.
Haskins added: ‘The creation of the Small Business Service should enable the government to address many of the concerns raised in this report. We hope the government responds positively to our ideas and builds on them to ensure that the SBS is successful where previous initiatives have failed.’
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