Business regulations proving less of hinderance

Businesses are feeling less hindered by strict rules and regulations in 2012, according to a new report.

55% of businesses surveyed felt that regulation was an obstacle to their business and its potential for growth, down from a peak of 62% in 2009.

41% feel that the current balance of regulation is about right, whilst more than half of businesses expect regulation levels to stay similar or to decrease over the next year.

However, one-in-nine businesses have felt the need to make contact with bodies or organisations to suggest ways to improve the regulatory regime.

The Government’s Business and Enterprise Minister Mark Prisk said of the report findings: “Reducing the burden of regulation for business is at the heart of the Coalition Government’s ambition to make the UK one of best places to start and grow a business.”

“This report suggests that businesses can now see progress, but there is clearly more to do. We are committed to this process.”