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Business loans for rising regulation costs
Reported on Wed, 01 Mar 2006
Rising costs associated with new regulations for businesses may increase the need for business loans.
Companies have had to cope with an increase of £11 billion in costs associated with laws introduced by the government, new figures by the British Chambers of Commerce (BCC) show.
According to the BCC's "burdens barometer", compiled by the London and Manchester Business Schools, 69 new acts and other forms of legislation has increased the financial pressure on firms.
Taking out business loans could reduce this strain on firms, it has been suggested.
Commenting on the research, the director-general of the BCC David Frost said: "While we recognise the need for proportionate regulation, the government must ensure that new regulations are well targeted and excessive existing burdens are cut."
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