depends on a criterion strongly correlated with size such as a particular economic sector or legal type of business formation). Deadline variation/flexibility Temporal reductions be of great assistance for ease of compliance by SMEs. Possibilities include longer intervals for certain obligations (e.g. annual instead of quarterly payments), a lower frequency/probability (e.g. for audits) or longer transitional periods (e.g. for new regulation). In addition, common commencement dates can ease the regulatory burden for smaller businesses. Simplification of the implementation of regulationsSimplified obligations for small businesses may be achieved by introducing simpler formal requirements. This can be combined with an information drive to inform small businesses on their obligations but also a point of contact which can offer assistance as a stop shop”. The Local Enterprise Offices could act in this capacity. “one The Cabinet Handbook requirements The Handbook is an internal Government (Cabinet) guide for Ministers. Its purpose is to assist Ministers and officials in the preparation of matters to be dealt with at Government meetings. It states that, in relation to the impact of legislation, where no requirement for a RIA arises, each memorandum is required to indicate clearly, as appropriate, the impact of the proposal for industry costs and the cost to small business. An exemption applies for measures relating to the Budget. What are the steps required to apply the Test? (1) Consultation of SME stakeholders; (2) Identification of affected businesses; (3) Measurement of the impact on SMEs; (4) Assessment of alternative mechanisms and mitigating measures.
depends on a criterion strongly correlated with size such as a particular economic sector or legal type of business formation). Deadline variation/flexibility Temporal reductions be of great assistance for ease of compliance by SMEs. Possibilities include longer intervals for certain obligations (e.g. annual instead of quarterly payments), a lower frequency/probability (e.g. for audits) or longer transitional periods (e.g. for new regulation). In addition, common commencement dates can ease the regulatory burden for smaller businesses. Simplification of the implementation of regulationsSimplified obligations for small businesses may be achieved by introducing simpler formal requirements. This can be combined with an information drive to inform small businesses on their obligations but also a point of contact which can offer assistance as a “one stop shop”. The Local Enterprise Offices could act in this capacity. The Cabinet Handbook requirements The Handbook is an internal Government (Cabinet) guide for Ministers. Its purpose is to assist Ministers and officials in the preparation of matters to be dealt with at Government meetings. It states that, in relation to the impact of legislation, where no requirement for a RIA arises, each memorandum is required to indicate clearly, as appropriate, the impact of the proposal for industry costs and the cost to small business. An exemption applies for measures relating to the Budget. What are the steps required to apply the Test? (1) Consultation of SME stakeholders; (2) Identification of affected businesses; (3) Measurement of the impact on SMEs; (4) Assessment of alternative mechanisms and mitigating measures.
Draft-SME-test.docx