The Prime Minister invites entrepreneurs, investors, businesses, and interested individuals to come forward and share their experiences of setting up a new business modelon the Red Tape challenge website:
The government understand that new business models - particularly those that involve doing things differently - may fall foul of regulations that were intended for another age, or for another purpose entirely.
Speaking at a joint UKTI/BIS conference in central London, David Cameron said: 'Today I can announce we're expanding the Red Tape Challenge, so it doesn't just cover the red tape that affects businesses today, but the businesses of tomorrow too. Because we've heard from start-ups that they're innovating so fast, their innovations are out-stripping the regulation that currently exists.
'At its simplest deregulation has got to be about making it easier to start a business and making it easier to employ people. And I'm determined to do both.
'We want Britain to be the fastest place in the world in which to start a business. And yet currently it's quicker to set up a business in Rwanda than it is in Britain.
'We can't go on like this.'
If you want to share your experience privately, then you can comment to government officials by using a private inbox: firstname.lastname@example.org .
After ten-weeks of collating your ideas, Government officials will work with contributors to translate good ideas into action.
And during the process, any specific regulations that are highlighted will be immediately put on probation, and will be scrapped unless the responsible department can justify or satisfactorily modify it.
This is a powerfully radical process that will help not only to reduce the overall burden of regulation, but also ensure that better regulation is developed too.
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