What would your business do with $5,825? If you run a small business you’ll likely spend that money complying with government regulations.
At least that’s what the Canadian Federation of Independent Business (CFIB) estimates businesses with four employees or fewer spend annually dealing with red tape. The organization figures businesses across Canada collectively spend about $30 billion each year keeping up with government bureaucracy.
Most business owners could probably create a lengthy list of better things to spend that money on and in the CFIB’s October 2011 report, Controlling Red Tape for the Long Haul: A Foundation for Unleashing Entrepreneurship in Canada, there are a number of red tape reduction recommendations that fall under three categories: create accountability around red tape, reduce red tape and improve government customer service.
During the first quarter of 2011, the federal government’s Red Tape Reduction Commission performed its own consultation attempting to identify the most irritating measures creating red tape in the business community. The commission’s recommendation report was released during Red Tape Reduction Awareness Week (Jan. 16 to 20) and has 15 recommendations of its own for reducing red tape. Some of the recommendations in the report also have a recommended implementation date, which is really the most important part – making sure the suggestions themselves don’t get caught up in red tape.
What recommendations for cutting red tape would you make?