Does fear of red tape stifle entrepreneurship?

4 10 2007

Spotted a story from Monday’s Times which indicated concerns that Britain’s entrepreneurial culture is at risk of being stifled by the fear of red tape and failure.  The article was based on research carried out by YouGov for the law firm Dickinson Dees, and which revealed that 45 per cent of people who have thought about setting up their own business are put off by the legal requirements involved.   Some 29 per cent of 25 to 34 year olds are concerned about a venture failing, which indicates a worrying trend for the future of Britain’s entrepreneurial economy according to Dickinson Dees.  Unfortunately there’s no further information on either the Yougov or Dickinson Dees websites.  However, the Better Regulations website offers small businesses the opportunity to tell Government what regulations are causing problems, with a commitment by Government to respond back to business within 90 days as to what they (Government) will do about it

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