The Surrey Board of Trade’s annual survey on government red tape released Friday (Oct. 27) reveals that 67.5 per cent of its members who responded say that current government regulations impede their ability to grow their businesses.
“Although regulations are a necessary part of doing business, there is room for improvement,” reads the report.
Over 48 per cent of respondents agreed that inflation and cost of living have impacted their business operations.
The board of trade has roughly 6,000 members and of those, about 15 per cent responded to the 2023 survey. 62 per cent of respondents were employers.
Most members who responded say they are experiencing declining revenue, business or leads as their operating costs have increased.
The survey also indicated “low business morale.”
READ MORE: Government red tape riling Surrey businesses
“An increasing number of our respondents are finding regulatory compliance compromising their ability to start, grow and innovate their businesses,” said Anita Huberman, President and CEO, Surrey Board of Trade.
“Perhaps we need to bring back a Red Tape Reduction Minister concept at all levels of government.”
The Surrey Board of Trade lists three recommendations:
1. Governments improve and simplify their instructions on regulatory compliance;
2. That all levels of government improve their online service portals and call centre services, using clear language for instructions and ensuring relevant links are up to date and working; and,
3. Agencies share information and make sure there are no duplicate information requirements.
This is the board’s seventh annual red tape survey.
-With files from Tom Zytaruk