MPs lack business experience

MPs have been invited to spend time working in a small firm to see for themselves the results of their legislation.

The Federation of Small Businesses (FSB) has offered to help arrange work experience in a small firm to any MP that would like to learn how laws passed at Westminster affect business.

Research by the House of Commons Library found that only seven per cent of Labour MPs have experience in business. The figure is slightly better for the Opposition parties with 40 per cent (Conservatives) and 29 per cent (Liberal Democrat), but is still less than half of the law-makers having personal experience of business.

The FSB would like to improve the level of knowledge of small firms in Parliament with the hope that this will lead to a lighter regulatory touch.

The average small firm owner currently spends 28 hours a month filling in forms. This is time that the owner/manager could spend growing the business.