AXA Insurance interviewed 800 small businesses about the impact of regulation on their ability to trade. Incredibly over 90% of those interviewed felt that regulation was neither costly or created a burden for their businesses.
The majority of those asked also felt the benefits of regulation outweighed any drawbacks.
Only 40% of sole traders and micro businesses were able to recognise common pieces of legislation that affected them directly, but SMEs with 5 or more employees were more clued up, with 94% of businesses aware of key pieces of legislation.
The small businesses polled said the pieces of legislation most relevant to them are:
The study also uncovered some worrying concerns about equality and discrimination laws. While most small business employers said they are committed to equal employment opportunities, a sizeable minority (14%) said they would not hire a woman or someone from an ethnic minority for fear of tribunals or accusations about workplace discrimination. This rose to 18% among male business owners.
AXA's Gareth Howell said: "If this figure is representative of the overall population, it means that almost 700,000 business owners feel discouraged from hiring equally. It's based on misconceptions: tribunals brought against employers on grounds of workplace discrimination are rare, but they get a lot of attention. There is a need to redress the balance through positive stories about workplace diversity and factual guidance for small employers."
The small businesses polled said the pieces of legislation most relevant to them are:
- Health and Safety at Work Act (23%);
- Data Protection Act (21%);
- Product Safety Regulations (9%);
- Employment laws (9%);
- Consumer Rights Act (9%).
The study also uncovered some worrying concerns about equality and discrimination laws. While most small business employers said they are committed to equal employment opportunities, a sizeable minority (14%) said they would not hire a woman or someone from an ethnic minority for fear of tribunals or accusations about workplace discrimination. This rose to 18% among male business owners.
AXA's Gareth Howell said: "If this figure is representative of the overall population, it means that almost 700,000 business owners feel discouraged from hiring equally. It's based on misconceptions: tribunals brought against employers on grounds of workplace discrimination are rare, but they get a lot of attention. There is a need to redress the balance through positive stories about workplace diversity and factual guidance for small employers."
No comments:
Post a Comment