Red Tape Challenge - Disruptive Business Models

Red Tape Challenge - Disruptive Business Models

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Ashley

Update and Next Steps Manager's Choice

Policy, Science and Public Affairs Officer at British Consulate-General, Vancouver

Dear all,

Thank you all for your comments on the Disruptive Business Models Red Tape Challenge. Over the last few months we have reviewed your comments to help focus on the issues that matter to you most and that are hampering the businesses of tomorrow. As this process is reaching its concluding stages, I thought that now would be a good opportunity to update you on progress, and how you can be involved in the next steps.

With your help Government has been able to put together a package of proposals which will unlock the potential of disruptive business models. These will be discussed by Ministers in May. The areas covered are:

• Estate Agencies: We are exploring cutting Red Tape to encourage greater competition in the estate agency business.

• Peer-to-Peer lending/CrowdFunding: This is an exciting new way of lending and working with BIS the Treasury is exploring the regulatory environment of this nascent industry.

• Lending to Businesses Rich in Intangible Assets: This has exposed the wide range of support available and the need to raise awareness of existing sources of support.

• Intellectual Property – Patents and Trade Marks: We are investigating the possibilities of accelerating the speed and lowering the cost of patent applications and how trade mark protections work for SMEs.

• Distance Selling Regulations: With the rapid expansion of online retailing we are reviewing the role of distance selling regulations balancing the needs of consumers and business.

In addition to these topics you raised a number of other concerns, principally: data protection; public procurement; and, employment law. There are well developed programmes of work in place within government to address these concerns and full reference will be given in the final published report. In terms of data protection, the Ministry of Justice will be reviewing the regulations made under the Data Protection Act as part of their legal services Red Tape Challenge. We will incorporate the discussions from the Disruptive Business Models Red Tape Challenge directly into that process.

Prior to Ministerial discussion the Government is keen to get your opinions on which proposals you consider the most important. Please follow this link http://linkd.in/HYPQYh to provide your input. The results will be passed to Ministers providing additional context to the Ministerial discussion. At the end of the process we will be publishing the public report, which will detail the steps Government will be taking to tackle issues you raised within the Disruptive Business Models Red Tape Challenge.

  • Comment (21)
  • April 27, 2012
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Comments

  • Mike B.

    Mike

    Mike B.

    Business innovation, implementation, optimisation

    Legislation around crowd-funding should focus on preventing abuse NOT on creating another ton of red tape...

  • Adrian W.

    Adrian

    Adrian W.

    CEO at Estafet

    Would of loved to see the high impact tougher issues picked up (employment tax, corporation tax, vat, etc?) as i thought the group raised some good solutions. I can't help feel that whilst the 5 points raised are good once put in context of our recession look unimpressive.

  • Graham S.

    Graham

    Graham S.

    Chairman, Oxford PharmaGenesis

    I agree with Adrian. These are not economy-changing initiatives. Let's be bolder and much more ambitious in our objectives for this initiative.

  • Henry N.

    Henry

    Henry N.

    CEO at Blu Wireless Technology Ltd

    I am massively disappointed. None of the chosen 'key points' are really disruptive and are in fact a waste of govt time. I would be interested in understanding how these issues have somehow been chosen. The key issues should relate to how to unlock SIGNIFICANT funds from larger corporates who are looking for bright ideas from SMEs that they can help market, and how to simplify the tax regime. For fast moving companies formal IP protection is secondary to gaining access to the market and is often counter productive - I suggest you look at open source/GPL as a guide. Crowdcube and others are giving useful access to ££ for 'angel' level funding but this is not 'smart money'. And as to estate agents - is this an 'industry'.....? NOT disruptive

  • Henry N.

    Henry

    Henry N.

    CEO at Blu Wireless Technology Ltd

    Reason I stress funds from large corporates is that the FTSE 250 has been massively improving its balance sheet over the last two years as a defensive measure to maintain their shareprice as a 'defensive measure' against takeover. If we could give the right incentives to the CFOs of these large companies to invest in SMEs with bright ideas AND energy then think of the % returns that these companies could get. Stop obsessing about the small issues and start looking at the big ones that will make a significant impact for 'UK PLC'.

  • Henry N.

    Henry

    Henry N.

    CEO at Blu Wireless Technology Ltd

    Ashley - I would suggest that you clarify what the process has been - and will be - and give an opportunity to the contributors to comment on it. The government should either be serious or not bother.

  • Ashley T.

    Ashley

    Ashley T.

    Policy, Science and Public Affairs Officer at British Consulate-General, Vancouver

    Thank you for voting in our poll and for your comments so far. In a few days we will be meeting with Ministers and will use this opportunity to update them on your thoughts. Government is committed to reducing the complexity of regulations, making it easy to engage with the procurement process and to create a tax environment which helps enterprise.

    The Crown Representative for Small and Medium Enterprises (Stephen Allott) has previously commented in this group to highlight some of the work government is doing to make the procurement process easier for SMEs. Already we’ve eradicated pre-qualification questionnaires in 15 out of 17 Departments, we’ve established Contracts Finder as the single place to find lower value tender opportunities - and we’re seeing SMEs winning business where perhaps they hadn’t done before – for example where Government is centralizing its contracts. Of course more work is needed, and further information and the opportunity to feed in to this can be found here: http://www.cabinetoffice.gov.uk/content/crown-representative-smes-stephen-allott

    As part of its package of reforms to help SMEs who are making the important step of hiring for the first time, government has put in place a National Insurance Contributions (NIC) Holiday. The NIC Holiday gives new businesses a saving of up to £5,000 for each of the first ten employees they take on in their first year of business. The scheme is available to all businesses outside London and South East and runs until September 2013. This is in addition to the reduction of corporation tax announced in this year’s budget.

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