BERR: The outlook is positive for small businesses

UK small businesses are making "steady progress", with new product and service launches at their highest levels since 2003.

A study by the Department for Business, Enterprise and Regulatory Reform (BERR) revealed that 65 per cent of small business owners are planning to expand in over the coming years - an increase of nine per cent since last year.

Business minister Shriti Vadera has welcomed the results of the study, claiming the findings indicate a "healthy enterprise environment".

However, Ms Vadera also highlighted the concerns of small business owners over regulation issues.

"We recognise that regulation is a key business concern and this is why we are driving through one of the most ambitious programmes to ease the burden of regulation on business launched by any government," she commented.

The Federation of Small Businesses last year backed BERR proposals to ease administrative burdens on small firms - claiming that business owners are "consistently held back" by unnecessary red tape.