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The Cost Of Red Tape for Businesses in NSW

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red tapeThe overregulation is costing NSW businesses in the vicinity of $8.5 billion in compliance costs. A report on the website of NSW Business Chamber highlights the chief features of the Red Tape survey.

Red tape is responsible for the loss of 220 million work hours and is sheer plight for companies which have more than 200 staffs. It is such companies that are bearing maximum brunt; paying a mammoth $386,0000 due to local, state and federal regulations.

No surprise then that organisations feel they are being overregulated and that it is not a healthy fact.

You can read the original article here.

What’s your take on the fact- big businesses which provide high number of jobs (service to the nation) are being penalised even more?

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