PM to scrap 3,000 regulations to ‘boost small businesses’

Mr Cameron said that many firms have been bogged down by minor regulations and legislation, preventing them from using their time and money more efficiently to expand.

The Prime Minister was speaking at a Federation of Small Businesses (FSB) conference. He said: “”We need to be a country that celebrates enterprise and backs risk takers.” He added that the benefit to small businesses will be £850m a year.

More than 14 million people are employed by small businesses in the UK, and the government has promised to help these companies succeed.

Mike Cherry, the FSB’s policy chairman added: “The UK’s large businesses need to play their part too, in supporting ambitious small businesses, for example, through paying their smaller suppliers promptly.””

 Business Secretary Vince Cable said: “I regularly meet these companies across the UK to hear first-hand how the government can do its part to help small and medium sized businesses grow and succeed. We have acted on their demands by significantly reducing red tape.

 “We are also tackling late payment, which affects so many small firms that still have to wait too long for cash to flow through to them. It’s important that businesses give us their feedback on this issue.”