Is Red Tape Holding Your Organisation Back?

Services firm, Deloitte, recently surveyed 50 chairs and CEOs of Australia's biggest private sector companies about their views on Government regulations on their businesses. A majority of them indicated that Government red tape is a big concern for them with the potential to stifle their company's growth. We breakdown the results here.

Red tape woman picture from Shutterstock

According to Deloitte, the general consensus among respondents is regulation is increasing and can get in the way of their decision making process. Some of the key findings from the research include:

  • 67 per cent said regulation is on the rise.
  • 65 per cent believe corporates are bogged down by red tape. Cutting down regulation will increase productivity, they said.
  • 89 per cent say their companies have a consistent approach to risk across their business.
  • Generally, business leaders see Australia as an inflexible country to do business in and will look overseas to achieve business objectives. Despite this, they do see Australia's regulatory environment as creating relatively low sovereign risk and the country is in a stable political situation.
  • 68 per cent believe compliance is not the culprit for lack of innovation blames cultural issues and politics instead.

What do you think of the results? Do you think a reduction in Government reduced regulation will boost productivity in your organisation? Let us know in the comments.


Comments

    In a shocking turn of events, companies want to be able to do whatever the hell they want more. Reducing regulation may increase productivity, but there are more factors involved that just productivity. For example, it would probably increase productivity if company owners could beat their poorest-performing staff member with a stick, but that doesn't make it a good idea.

    As an employee of a tier of Government, yes, yes it certainly is.
    Everyone is afraid of making difficult decisions for fear of seeming to be wrong.
    Even if it is the right thing to do

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