Essentially, this idea is a simple one which is to look at every piece of business legislation and raise the level at which the legisaltion applies.
For example, companies with more than 5 employees need a Health and Safety policy – make it 10.
Look at the VAT threshold – make it optional up to £100k
Raise the levels for everything leaving many Small Business with a lighter burden
Why is this idea important?
Essentially business formation is important to the economy but the first thing new business owners have to do is to cope with a raft of regulation and law in order to get started.
The two effects of this are that people are out off starting a business and that many snall business fail becasue the Directors fall foul of regualation.