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Red tape freeze extended to more small businesses

The BIS has announced that the freeze exempting businesses with fewer than 10 employees from burdensome new regulations will now be extended to firms with up to 50 staff, and will continue from 2014. The new Small and Micro Business Assessment builds upon and strengthens the current Micro-Business Moratorium, introduced following Budget 2011. New proposals for regulation will first undergo impact assessment. If at any stage, unnecessary burdens on small businesses are identified, proposals will only be cleared if an exemption is granted to smaller businesses – or if disproportionate burdens on small businesses are fully mitigated.

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