Rules set to take toll
THREE-QUARTERS of entrepreneurs in the North-east expect the regulatory environment for small and medium-sized firms to become more burdensome over the next three years, according to new research.
And although confidence slipped among small businesses in the region in the past quarter, it fell only one point compared with two points on average across the UK, according to the Bank of Scotland Small Business Confidence Index.
In addition to expectations of a heavier regulatory burden, the survey said, more than half of entrepreneurs in the region believe the need to comply with regulations and legislation is preventing their businesses from maximising performance.
And more than half of entrepreneurs in the North-east agree with Confederation of British Industry director general Richard Lambert’s recent complaint that “red tape and regulation only serve to dampen entrepreneurial flair”.
