The government is aiming to cut at least £10billion of red tape for businesses over the next five years
The reaction follows reports that the new Business Secretary, Sajid Javid, is planning to boost small business by cutting at least £10billion of red tape. A Braant spokesperson provides a statement.
The government is aiming to cut at least £10billion of red tape for businesses over the next five years, in an attempt to boost the economy and create new jobs. A fresh Enterprise Bill was announced by new Business Secretary Sajid Javid in a speech earlier this month, which he claimed would make Britain the best place in Europe to start and grow a business.
It’s hoped that over two million new jobs will be created over the course of this government’s term, giving more people the financial security they crave. “Small businesses are Britain’s engine room and the success of our whole economy is built on the hard work and determination of the people who run and work for them,” claimed Mr Javid.
“As Business Secretary, I will always back them and, in my determination to get the job done, one of my first steps will be to bring forward an Enterprise Bill that helps them to succeed and create jobs. As part of our long-term economic plan, we will sweep away burdensome red tape, get heavy-handed regulators off firms’ backs and create a Small Business Conciliation Service to help resolve disputes.”
The Small Business Conciliation Service will settle disputes between small and large businesses over various matters, especially late payments. Small firms are predicted to be owed more than £32billion in late payments, however many of them are either unaware of their rights or are reluctant to make any legal challenges.
Business Minister, Anna Soubry, added: “This will be a no-nonsense Bill to back small businesses and help to create jobs, giving financial security and economic peace of mind to hardworking people across the country. We will be asking business for evidence in the coming weeks and months. We want them to be our partners in identifying and scrapping needless burdens at home and in Europe. It is important government gets behind small businesses – enabling them to get finance, get paid on time and get rid of red tape.”
Braant, a leading accountancy firm based in the UK, takes a keen interest in reports such as this. A spokesperson provided this statement: “This new Bill will certainly go a long way in helping small businesses grow, and there will be a lot of interested entrepreneurs sitting up and taking notice of this news.
“With such growth expected across the country there’s going to be a bigger need than ever for companies to look after their finances, and they should make sure the correct processes are set up to boost efficiency. Qualified accountants and bookkeepers will be right behind small business prospects, helping them to develop into successful and profitable establishments.”
Braant are a top ten rated and award winning firm of certified accountants and bookkeepers. Providing scalable bookkeeping and accountancy packages across London, Braant provide both day-to-day bookkeeping for SMEs and finance solutions that manage the entire finance function of large businesses.
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