Small firms losing out on business due to regulation

Red tape and bureaucracy are leading to small businesses missing out on billions of pounds worth of business, as time and resources are taken up by more and more regulation, research by the Forum of Private Business (FPB) has found.

An estimated £29.8 billion worth of business is falling by the wayside, despite the government’s initiatives designed to cut legislation and promote more focus on generating business.

84% of respondents reported increased time spent making sure their businesses were in line with legislation since a previous study by the FSB completed in 2009.

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