There is very little doubt that by putting a stop to any further business legislation and simplifying existing regulation would boost job creation significantly.
According to Gerald Irwin of Sutton Coldfield based Licensed Insolvency Practitioners and Business Advisers, Irwin Insolvency, “Many businesses are looking to expand but are far too worried about the complexities of legislation to do so. Furthermore, most are strongly influenced by the regulatory burdens they already face.”
Various bodies have been and still are calling on the government to halt all new business regulation for at least the next couple of years once current growth has been sustained. They are also calling for a simplification of current laws.
“The burden that spurious regulation puts on small businesses cannot be underestimated especially at a time in the economic cycle where thousands of small firms are either planning to close or down-size” added Mr. Irwin.
Many small firms will be seeking to employ additional staff once economic conditions improve further. The government should now be looking to give the UK’s regulatory environment a strategic overhaul that could well provide economic stimulus to boost both growth and employment further.