BGN Entrepreneur

According to a report, which looked at the experiences of people running businesses, it is revealed that red tape costs business more than £80 billion a year. According to the report, it is said that the cost of regulation had soared to 5.7% of economic output.
The Institution of Directors said that the government should step out of the way. It is warned that a culture change was needed to stop companies being overburdened. Directors are spending more than a month every year handling red tape and the burden on workforces was equivalent to one member of staff working continuously on regulation for five-and-a-half months.

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