And it is the administrative hurdles, the lack of customer service, the delays, the uncertainties and frustration involved in dealing with public bureaucracy. This government burden costs business time end money. It cost businesses in terms of competitiveness when regulatory information requirements create inefficiencies, reduce flexibility and impede innovation. This burden is particularly heavy for small businesses who do not have the resources, the personnel, the time or information to respond to the increasing and varied demands of the government. Uncertainty of interpretation and enforcement Regulations do not recognize the capabilities of, or the competitive impact on small business.
Regulations often reduce flexibility and innovative capabilities.
Overlap and duplication of government regulation create additional costs to business Regulations are often incompatible with prevailing market conditions, best business practices, or efficient administration Regulations are often incompatible with the requirements of other domestic or international jurisdictions or of regulating bodies. Lack of transparency in regulatory design, interpretation and enforcement. Financing Small Business Today's small businesses are dynamic innovators that will shape the economy of the future. In fact our economic future is becoming increasingly dependent on the growth of small business enterprises to create jobs, to diversify the economic activity and to compete effectively in the global market. Accessing suitable financial support to provide the opportunity for such growth is critical to the expansion of small businesses.