Press Releases
Press Release
Increasing red tape leaves small firms in the North East with a £598 million bill for annual compliance costs
Although there is uncertainty about the economic recovery, there is no doubt that the administrative costs on the region’s small firms is increasing. • Red tape costs business in the region £0.6 billion or £1,790 per job • Internal compliance costs have risen to £0.4 billion • Consultants...
Press Release
Increasing red tape leaves small firms in the East of England with a £2.0 billion bill for annual compliance costs
Although there is uncertainty about the economic recovery, there is no doubt that the administrative costs on the region’s small firms is increasing. • Red tape costs business in the region £2.0 billion or £1,900 per job • Internal compliance costs have risen to £1.3 billion • Consultants...
Press Release
Red tape costs the service sector 8.4 billion, the only sector to see a reduction in real terms from 2013
Compliance now costs the nation’s service sector around £14,700 or over £1,750 per employee • Red tape costs the service sector £8.4 billion or £1,775 per job • Internal compliance costs have increased slightly to £4.1 billion, a reduction in real terms of 5% • Consultants account for...
Press Release
Red tape adds £6.4 billion onto the cost of distribution in the UK.
Compliance now costs the nation’s independent retailers, transport companies, restaurants and hotels around £15,900 per firm • Red tape costs distributive trades £6.4 billion or £1,845 per job • Internal compliance costs have risen to £4.1 billion • Consultants account for £2.3 million,...
Press Release
Red tape adds £3.2 billion onto the cost of manufacturing in the UK as internal compliance costs rise by 23%.
Compliance now costs the nation’s manufacturers around £21,730 each with smaller firms paying proportionally more • Red tape costs the nation’s SME manufacturers £3.2 billion per £1,900 per job. • Internal compliance costs have jumped to £2.3 billion. • Despite accounting for 12% of...
Press Release
Red tape adds £2.0 billion onto the cost of construction - the highest cost per employee of any sector in the UK.
Compliance now costs the nation’s builders around £13,500 or almost £2,300 per employee • Red tape costs the UK construction £2.0 billion or £2,275 per job • Internal compliance costs have jumped to £1.5 billion • Despite accounting for 8% of SME employment, builders are responsible...
Press Release
Red tape adds over a billion pounds to the care home sector
Compliance now costs the care industry £21,250 per firm with independent care homes having to stump up £26,000, but the true cost is much higher • SMEs in the care industry spend £21,250 compared to £14,200 for a typical SME • Internal compliance costs have risen to £340 million • Consultants...
Press Release
It was a big budget for a country with big ambitions…as long as you own a big business!
Forum was “distinctly underwhelmed” by the Budget In order for the national debt to reduce over this parliament businesses need to grow and invest with confidence, but the Forum of Private Business is concerned that the Budget did not offer enough for the UK’s 1.2 million SME employers to grow...
Press Release
UK Economy loses £41bn to red tape according to Forum of Private Business survey
Summary • The cost of compliance for the UK’s 1.2 million micro, small and medium-sized employers is £20 billion in terms of actual costs • The perceived cost (opportunity costs) are £41 billion • The salaried cost of compliance is equivalent to £14,900 per company • Overall the cost...
Press Release
Forums budget wish list: give SMEs back their time so they can grow the economy
The Forum would like the July Budget to focus on improving productivity by giving business owners back the time they need to develop their business and the support mechanisms to grow through innovation and exporting. The wish list, compiled by the new managing director of the Forum of Private Business,...