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News - 29 April 2013

Regulatory Innovation for Growth programme launched

Business Minister Michael Fallon has launched a new fund to encourage local authorities and national regulators to adopt more business-friendly enforcement policies.

The Regulatory Innovation for Growth programme provides up to £20,000 per project for innovative enforcement schemes based on regulators working more closely with business. Examples of potential projects include assisting start up firms with compliance or offering easier access to information and training for specific business sectors.

Lavinia Newman, founder of ABDS comments:
“The Regulatory Innovation for Growth programme is part of a wider drive to reduce red tape and will provide up to £20,000 per project. Proposals must be based on closer working relationships with businesses, helping firms comply with essential requirements without burdening them with bureaucracy. These could include, for example, supporting start-up businesses as they are created, to help them understand and comply with regulation in a way that supports the success of their new enterprise, or providing new, more accessible forms of information and training for specific sectors.“

Business Minister Michael Fallon said:
“Better regulation has an important role to play in supporting enterprise and prosperity, and the Government has called time on bureaucratic processes that hold businesses back. This is a vital part of our drive to put government on the side of law-abiding businesses, supporting growth and enterprise while maintaining the highest standards of compliance.”

The programme is administered by the Better Regulation Delivery Office (BRDO), and is part of a wider £500,000 investment in improving the enforcement of regulation. Further initiatives include support to a number of Local Enterprise Partnerships that are improving the way enforcement is delivered by working with business communities, and support to trade associations and local authorities that are working in partnership to develop reliable, sector-specific advice for business

For a more personal approach, those considering setting up a business contact us at ABDS to offer help and support on a range of issues, including keeping records, VAT registration, National Insurance, starting up a limited company, and PAYE Real Time Information.

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

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