SMEs: Britain is anti-business

MORE companies feel that the UK is less “business friendly” than a year ago, reversing a slight improvement in 2010, according to the Institute of Chartered Accountants in England and Wales (ICAEW).

The accountancy body’s enterprise report showed that the attitude to the UK regulatory and tax environment has worsened, with 53 per cent of firms saying that the UK was not business friendly, an increase from 48 per cent in 2010.

As a flood of new legislation arrives, SMEs in particular feeling the brunt of regulatory burdens, the ICAEW said.