Small businesses welcome the recent announcement of the European Commission that it will remove more than third of supposed “red tape” as a step towards its “step change” to lighten the burden on small and medium-sized businesses.
The move effectively shelves 68 proposals from 183 draft laws. The Commission, in justifying its decision, said that these proposed laws, were excessive, outdated or not in any way helpful in making the process of forming their business. With this reduction only 100 drafts for legislation were deemed important enough to be given the opportunity to bring the proposals closer into being an actual law. your
The Commission also said that it will strictly base all of its decisions on the process that was stipulated: Does it aid competitiveness? Does it improve legislation? And Will it be realistically accepted?
Business solutions experts welcome these new measures. According to them, cutting or reducing red tape will alleviate the difficulties of compliance that small and medium-sized businesses used to face. It also brings a new image to the global business community that Europe is indeed serious in pursuing its economic goals.
Before these measures were undertaken, the situation was indeed bleak for SMEs. These businesses would have no choice but to usually employ a legal team (a very expensive coast that not all businesses can afford in their budgets) to sort through all the complex requirements needed to open up a new business – this is a situation that is quite discouraging especially for new entrepreneurs.