Dell Says UK Firms Unsure Of Regulatory Compliance Status

by Ulrika Lomas, for LawAndTax-News.com, Brussels

28 March 2005

According to a recent survey conducted by technology firm, Dell, the vast majority of the UK's small businesses are unaware of their compliance obligations when it comes to government regulations affecting the business sector.

Only 8% of the firms polled believed that they were fully aware of their obligations and the possible penalties for failing to fulfil them, whilst around 25% felt that many of the regulations being discussed did not apply to their business.

More than 33% of small business owners stated that complying with increasingly complex business regulations had drriven up theit IT spending costs, to the detriment of other areas within the business.

However, Dell's Steve Lewis was this week quoted by the Business Europe news service (which reported on the survey), as suggesting that:

"Legislation could be an opportunity, rather than a threat, to small businesses, providing them with an excellent catalyst to better measure business process effectiveness."

He continued:

"Alongside improved operational efficiency, such as the systematic archiving of financial data, email and other important records, small businesses could also expect to see better quality for customer service and products, a reduced risk to business continuity, and better protection against possible litigation."

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