Business Advice for all UK firms from starting a business to flotation

European Parliament report calls for new laws to help small firms

The Small Business Act should be made legally binding to support small and medium-sized companies grow, according to a report from the European parliament.

The European parliament report claims that UK SMEs are underperforming regarding productivity, growth and innovation compared to their American counterparts and that more supportive legislation would help them expand quicker.

The report outlines ten guidelines, which the parliament is calling to be implemented into law to help small firms.

These include creating a universal time limit for payments to reduce late settlement of invoices and boost cashflow in firms, a reduction in taxes paid when transferring ownership of a family businesses and support for small firms to find out their intellectual property rights.

Share |

Printer friendly version

Post Date: March 12th, 2009