Titan Business Insurance worries that excessive red tape is still a major problem and that unless speedy and decisive action is taken, commerce will suffer.
One of the UK’s largest business insurance brokers is concerned that the cost of doing business in the UK is still increasing and that red tape has to be reduced in order to facilitate future growth.
Titan Business Insurance worries that unless the Government takes a proactive role in reducing red tape and the costs that go with it, SME’s especially will worry that they cannot make ends meet.
The business insurance broker believes that continually bringing in new legislation and rules means that business costs are forever increasing and this will not only stagnate expansion, but also deter entrepreneurs from starting up.
The Coalition Government promised action against unnecessary red tape, but Titan says that this is a slow process and action needs to be swift and decisive.
Chief Executive Officer of Titan Business Insurance, Basil Tsapralis, said:
“Excessive business red tape will strangle the economy if we are not careful. On one hand, we can only applaud some of the measures introduced over the years which has made business not only a safer place for its workers, but also for consumers as well. But on the other hand, for many businesses, they feel that new laws and legislation are being introduced on an almost daily basis and that they are ultimately being asked to foot the bill.
“We have to ensure that businesses have the freedom to grow and do what they are best at, providing jobs for people who produce great products for other businesses, or the consumer.”
Titan Business Insurance is a major player in the commercial sector and has clients spread throughout the UK.
Contact: Titan Insurance on 0207 731 3700 for any enquires.