Sole traders stunted by red tape

One in three sole traders looking to expand their business would be encouraged to take on staff if they were exempt from employment laws, a survey from the British Chambers of Commerce has found. Half of the surveyed traders said that a reduced rate of National Insurance Contributions (NIC) would incentivise them to recruit their first employees. Only six per cent of sole traders were unemployed before going into business alone, the report also uncovered.