To meet its pledge to reduce the administrative burden of doing business by 25% by the end of this parliament, the UK government has established the Small Business Regulatory Taskforce.

The taskforce brings together representatives from industry to provide recommendations on how the government can best ensure regulation is proportionate for smaller businesses. The group aims to identify opportunities streamline regulation, reduce administrative costs and unlock growth.

Announcing the creation of the taskforce, the Minister for Small Business, Blair McDougal, said: “Small businesses are central to the UK economy. Yet far too often they face disproportionate regulatory and administrative burdens.”

He cited evidence gathered by the Department for Business and Trade through its business questionnaire last autumn, that “complexity, duplication and inconsistent guidance” across regulators can make it harder for smaller businesses to comply.

McDougal confirmed: “The taskforce will seek to improve the clarity and usability of regulation in a way that looks to support and increase innovation, productivity and growth across the SME economy.”

Taskforce first meeting

McDougal is co-chairing the taskforce with Tina McKenzie, Chair of Policy and Advocacy at the Federation of Small Businesses. The group, which needs to provide its recommendations to government in the autumn, met for the first time on 11 June.

ICAEW’s Iain Wright, Chief Policy and Communications Officer, attended the meeting and was joined by representatives from Small Business Britain, Enterprise Nation, Family Business UK, the British Chambers of Commerce and Goldman Sachs, among others.

The meeting confirmed that all those involved with the taskforce are determined to make a tangible difference quickly, says Wright. 

“This is an eight-week sprint of intense activity, laser-focused on removing pain points for small businesses,” he says. “I am delighted that the government has included ICAEW on this important taskforce, as it is recognition of the vital role that chartered accountants have in running, advising and growing Britain’s small businesses.

“Our members understand the challenges facing small businesses, as they are living and breathing this every day.”

What is holding businesses back?

ICAEW is calling on its members to share examples of where regulation and compliance is disproportionately affecting small organisations.

“The aim of this taskforce is to identify specific examples of reforms that can improve the operation, clarity and proportionality of regulation for SMEs,” says Wright.

“Our members can really help shape policy. It is those experiences that will provide the evidence needed to reshape the regulatory landscape and I would encourage them to complete our survey and let me know about the regulation that is stopping small businesses grow and thrive.”

ICAEW has created a short survey to enable practitioners to share:

• what area of regulation creates the largest burden on SMEs;
• what the biggest challenge facing SMEs is;
• what action would produce the great reduction in administration; and
• what one change should the government prioritise.

Share your thoughts.