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Small businesses will save big says Cable

No small firm will have to produce independently audited accounts any longer, Business Secretary Vince Cable has announced, in a move that is expected to save 42,000 companies £40m per year.

The Business Secretary has outlined changes to regulation in an area which is a huge burden on businesses, producing accounts, saying in a statement on Friday: “It’s important that we free small firms up so they can grow and drive the economy.

“The changes I have announced mean that small firms will be able to concentrate on growing and taking on more people instead of paperwork.”

Mr Cable also spoke about the importance of the Government’s growth review which will make sure that every part of Government is doing all it can to support growth, getting out of the way when it needs to and only intervening where there is market failure.

This was posted in Bdaily's Members' News section by Ruth Mitchell .