Regulatory reform must translate into tangible everyday change for SMEs
The Government has pledged to cut administrative regulatory costs for SMEs by 25%, simplify licensing, and modernise corporate reporting requirements. However, similar promises have been made before – and we are still waiting to feel the benefits.
From duplicative forms to delays in licensing decisions, regulation continues to eat into SME productivity. Reforms must be felt on the ground, not just in policy documents, if the UK is to be the best place to start and grow a business.
The “Backing Your Business” strategy includes regulatory streamlining measures designed to make life easier for SMEs. Success should be measured by whether owners see a real reduction in time spent on compliance.
Peter Gallanagh, UK CEO at Azets, said: “We’ve been here before – ‘cutting red tape’ sounds great, but SMEs will judge it on delivery. That means fewer duplicative forms, faster licensing, simpler tax processes, and regulation proportionate to business size. Until owners feel it in their everyday workload, it’s just words.”
Read our summary of the Government’s Small Business Plan for more information on what may be unveiled as part of this strategy.
