A continued red tape drive could deliver a total £20 billion of savings by 2020, by scrapping even more pointless regulations.
The Red Tape Challenge was driven by 30,000 businesses and members of the public from across the UK and overhauled regulation to make sure it works for – and not against – business. This includes heavy duty rules around employment that hinder the creation of new jobs as well as health and safety and environment laws that place unnecessary burdens on firms.
PopUp Britain, the retail arm of national enterprise campaign StartUp Britain, warns councils need to act now to create quotas to nurture the British high street entrepreneurs of the future.
Figures released today, uncovered that lower-end retailers like payday lenders, cash converters and pound shops are the only high street sector in growth, while major chain store retailers saw a ten-fold increase in closure, with the potential to hit 28 a day this year.
UK companies are increasingly looking to reshore manufacturing, textiles, software production and call centre work to the UK instead of outsourcing overseas. This is due to the combination of a strong and stable economy, competitive corporate tax rates, a good regulatory environment, strong legal frameworks and a dynamic labour market.
UKTI has identified 1,500 manufacturing jobs reshored in the UK since 2011 and a MAS survey shows companies citing costs, quality and reducing lead times as the top three reasons for moving production back to the UK.
By Swaminathan S Anklesaria Aiyar Many lessons flow from David Cameron's victory in the British elections for Narendra Modi and Rahul Gandhi. First and foremost: it's the economy, stupid! Economic performance in your last two years matters hugely, even though it's not the only factor. The last Labour government ended with an economic downslide and so lost the 2010 election. David Cameron assumed office and bravely opted for sustained initial austerity and pain. He promised this would ultimately provide rising growth and employment. He delivered on that strategy, and was voted back.
The waiting game is over. The Conservative party has won the general election of 2015 and are forming a single party government. Entrepreneurs have high hopes for the next five years, especially from a party that has repeatedly talked of SMEs being “the lifeblood of the economy”.
It has hardly been a month since Shake Shack got publically listed on the New York Stock Exchange, and the burger chain is already eyeing aggressive global expansion. The Manhattan-based company announced on Tuesday its plans to expand to Japan. The fast-food retailer revealed in the press release that it had found a partner in the country, and will open its first Shake Shack store in Tokyo in 2016.
Jimmy Wales, the founder of Wikipedia, Martha Lane Fox CBE, founder of lastminute.com and Lord Young, the Prime Minister’s Enterprise Adviser, will be joined on the festival’s main day by some of the country’s leading entrepreneurs and thinkers.
Gathering more than 1,000 business leaders in Liverpool, Accelerate 2013 will provide a unique accelerator for growth, motivating high potential businesses to become world-beating organisations that will lead the economic fight-back in Britain.
Access to finance for growing companies
Last year the Chancellor re-confirmed his long-standing support for the creation of a dedicated British Business Bank. However businesses want reassurance that the Bank will live up to its billing as a major new player in British business growth, and they want a firm timetable in place for the Bank’s creation.
The reviews are the first step to working with British businesses to axe unnecessary regulation and its poor implementation by a further £10 billion over the course of this Parliament.
The Government is appealing to businesses to come forward and flag areas for change through the new Cutting Red Tape Programme.