Member Article

UK Entrepreneurs Failing to be UK Compliant.

In a recent report from the RSA (Royal Society for the encouragement of Arts, Manufactures and Commerce), it was discovered that over 20 per cent of small start-up businesses began their trading informally.

Further research from consumer research site, YouGov, has found that 40 per cent of start-up businesses avoided registering their business as they needed ‘breathing space’ from the pressures of starting a business.

It continued to reveal that a further 48 per cent of entrepreneurs stated that the ‘red tape’ process was the biggest factor into what prevented them from registering their business.

When referring back to the RSA report, it is also said that the number of misguided entrepreneurs and business start-ups are grouped together and referred to as the new ‘informal economy’.

A notion that not only destabilises the UK’s business industry and its volatile tax base, but is also an unfair situation for compliant, tax paying business owners who are currently registered and competing in the poor economic climate.

However, it seems that these reports are a clear illustration of how the UK economy is struggling to recover in the world of business.

Small start-up businesses and entrepreneurs are not being given the correct help or guidance in how and where to start a business. Also, not to mention making sure that their business is compliant with UK legal acts.

Business Start-Up Tips

There are a small number of websites who help businesses with start-up information some of which have been listed below.

Business Start-Up Advice Sites:

• http://www.startupdonut.co.uk/
• http://www.bstartup.com/
• http://www.businesslink.gov.uk/bdotg/action/layer?topicId=1073858805

Compliance and Legal Acts:

• http://www.nowwecomply.com/
• http://www.entrepreneur.com/startupbasics/legalissues/archive116046.html
• http://www.smallbusiness.co.uk/channels/legal-advice/guides-and-tips/

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