Government’s red tape effort leads to creation of new fund for business and regulation collaboration

National regulators can now bid for sums of up to £20,000 to initiate 'business-friendly' enforcement of regulation.

National regulators can now bid for sums of up to £20,000 to initiate ‘business-friendly’ enforcement of regulation.

New measures set out by business minister Michael Fallon are aimed at furthering the work already started through the government’s ambition to reduce red tape.

A new fund has been set up to provide up to £20,000 per project to support innovative ways of enforcing regulation.

According to the coalition government, proposals must be based on closer working relationships with businesses, helping firms comply with essential requirements without burdening them with bureaucracy.

Fallon comments, ‘Better regulation has an important role to play in supporting enterprise and prosperity, and the government has called time on bureaucratic processes and hold businesses back.

‘But top-down solutions are not the answer. That’s why we are asking people at the front line to demonstrate how they can better help business comply with regulation quickly and efficiently.’

More on red-tape measures:

Fallon says that the fund will support a total of six projects and that trade associations and professional bodies which provide advice and support to help businesses meet regulatory requirements are open to apply.

Back in March, Fallon set up two consultations aiming to ‘re-shape’ the way regulators work with business.

The Department of Business Innovation & Skills has given examples of projects which fit the criteria including: helping start-up businesses as they are created understand and comply with regulation; and providing more accessible forms of information and training in specific sectors.

Fallon adds, ‘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.’

Hunter Ruthven

Hunter Ruthven

Hunter was the Editor for from 2012 to 2014, before moving on to Caspian Media Ltd to be Editor of Real Business.

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