Small firms waste up to a day a week on admin | RBS Invoice Finance

Small firms waste up to a day a week on admin

Almost a day a week is wasted by Britain’s small firms on administration tasks required to stay in business, according to recent research by the FSB.

The report by the Federation of Small Businesses (FSB) suggests that up to 33 hours a month are spent on business-based administration tasks and red tape. This roughly equates to around four days in every calendar month.

It is claimed that, beyond what small business owners complete on their own time, around 70 hours of employees’ time is spent meeting compliance obligations. The FSB has criticised the government over this, as the excess time spent on such tasks is eating away at the ability of UK enterprises to concentrate on their primary objectives.

Dave Stallon, the director of the FSB, said of the recent findings:

[The government] pledged to remove £10 billion worth of red tape over the course of this Parliament. [But administration remains] a common frustration amongst owners of smaller companies.  [Small businesses] are unable to find the time to work on their real business activities because they are too busy completing administrative tasks.

Chief among the bugbears highlighted by various businesses as part of the research included filing figures for the Office of National Statistics (ONS), which provides official figures on the UK economy for the government.

Sam Hurst, who runs sandwich chain Grazing, said:

The worst culprit by a long shot is the endless stream of employment surveys we’re sent and obliged to fill out for the ONS.  We sometimes get two of these surveys through a week, asking questions, which the ONS would be able answer, if it was joined up with the HMRC, without needing hours of wasted time completing them.

For more news, views and reviews on funding and support for the UK’s small businesses follow us on Twitter @RBSIF.

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