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.
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.
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.
The Small Business, Enterprise and Employment Bill was introduced into parliament in June and will proceed through the legislative system over the next twelve months. The bill covers finance, procurement, employment and specific trades and its broadness will ensure there is interest from a wide array of industries. Some of the measures are fairly mundane whilst others a little controversial. So what are the main battlegrounds likely for the bill?
The rallying cry comes from Midlands-based language expert Comtec Translations off the back of recent figures released by the British Chamber of Commerce that state only five per cent of businesses in the UK speak enough French to do business in the country while 58% of companies are not confident they have a good enough product or service to market overseas. Comtec’s message is clear – take advantage of the extensive network of support available to successfully take your business overseas.
Stress had a noticeable impact on businesses in 2012, with decision-makers from British SMEs indicating that the negative effect of stress levels, low morale and staff absence could be set to continue unless the economic environment improves. 29 per cent of SMEs polled state that these issues are having a negative impact on overall business performance.
According to a fifth of SMEs surveyed, workforce absence levels have risen over the past two years, with 12 per cent reporting more short-term stress-related absences of less than four weeks in the last year.