Small business struggling with regulation
Most small businesses tell us that they are struggling simply to survive. Their frustration with bureaucracy and red tape is very tangible, and this is confirmed by a recent survey from Clydesdale & Yorkshire banks.
Headline facts and figures from that research are :-
- 15 % of small business owners find it difficult to keep up with and understand regulations let alone comply with them
- Nearly 10% of small businesses have been late with VAT payments
- Around 10% are also either late or have missed other tax payments
- Around 80% of small businesses are unaware of grants and tax concessions they may be entitled to.