Politicians 'need more' business experience

The Forum of Private Business (FPB) is calling for politicians across the UK and Europe to "educate themselves" on the issues facing small business owners.

Today's comments come after new research by Equifax revealed that just 13 per cent of political representatives have more than five years of business experience.

Commenting on the findings, the FPB's chief executive, Phil Orford, commented: "The fear shared by many business owners is that the legislators responsible for the red tape that hinders them so much do not even begin to understand their needs."

Mr Orford says that this research will add to the belief that "elected representatives lack the knowledge required to make a positive difference" to small businesses.

The government introduced a new code yesterday, aimed at reducing the administrative burden faced by small companies and said it would be encouraging regulators to take a "light-touch" approach to companies which complied with the law.