A new survey carried out by LK Shields has found that 66% of Irish business believe there is too much red tape involved in doing business in Ireland.

The survey which was carried out among 300 Irish businesses of all sizes, assesses the burden that red tape places on Irish businesses across all sectors and seeks to gain a greater understanding of ow compliance and regulation affects the Irish business market.

The data shows that the vast majority (85%) of respondents believe that the cost burden associated with regulation in Ireland needs to be significantly reduced. Three in five business agree that an independent body should be established to review the impact red tape has on Ireland’s competitiveness.

The 2015 Red Tape Survey focused on large and small-to-medium enterprises (SMEs) across all sectors in Ireland, including the service, retail, finance, manufacturing and construction industries. Over 80% of business surveyed employ between 25-99 people, while 9% employ 100-249 and 8% employ more than 250 people.

Of the businesses with 25-99 employees, only 22% state that Ireland’s regulatory environment is more attractive than overseas markets, while that figure rises to 39% of business with over 100 employees.

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