The Federation of Small Businesses has published a report and DVD examining the impact that regulation has on entrepreneurs.

It highlights the fact that the average small business spends seven hours per week dealing with regulations and paperwork.

The DVD is a compilation of interviews with small business owners from across the UK explaining what they would do with the seven hours each week that they currently spend filling in forms. The report outlines the benefits to the economy and society that would follow from businesses getting their seven hours back.

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The FSB is concerned that the red tape burden is preventing small firms in Northern Ireland from growing and employing more people, as well as working against other Government priorities, such as increased community involvement by businesses and employee training. Tackling the red tape burden would benefit both businesses and the communities in which they operate.

The FSB wants to encourage the Northern Ireland Executive, UK Government and the European Commission to deliver on their promises on deregulation. The Commission has committed to cutting red tape and is encouraging member states to follow suit. Estimates put the potential gain from deregulation at €150 billion across the EU.

Wilfred Mitchell, FSB Policy Chair in Northern Ireland said: "There is no doubt that the volume and complexity of red tape is excessive. Shorter, simpler regulations will enable businesses to follow the rules more easily as well as protect their existing employees. They will also be able to hire more staff as they use more of their seven lost hours to grow their businesses."

(CL)