Update and Next Steps Manager's Choice
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.