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Reducing bureaucracy strengthens medium-sized businesses - FDP politician appeals for efficient measures
Find out why Economics Minister Daniela Schmitt emphasizes the need to reduce bureaucratic hurdles and increase efficiency. The Bureaucracy Relief Act IV is intended to relieve the burden on entrepreneurs and promote innovation. #Bureaucracy reduction #SMEs #Innovation
Reducing bureaucracy strengthens medium-sized businesses - FDP politician appeals for efficient measures
Economics Minister Daniela Schmitt has emphasized the need to strengthen small and medium-sized businesses and ease the burden on the economy by reducing bureaucracy. According to the FDP politician, too much bureaucracy hinders the development of new products, the opening of new markets and the creation of jobs in family-run companies. Schmitt emphasized the demand for a faster, more resilient and more efficient way of working as well as for more leanness, digitalization and innovation.
Schmitt sees the Federal Government's Bureaucracy Relief Act IV as an important step in the right direction. The abolition of the registration form requirement for residents and the waiver of the written form in certain areas should bring practical relief for medium-sized companies. The aim of the bill is to remove unnecessary regulations and reduce the bureaucratic burden for companies and citizens.
Among other things, the draft law provides for the retention periods for copies of invoices, bank statements and payrolls to be shortened from ten to eight years. The obligation to report for German citizens staying in hotels will be abolished, and the text form will replace the written form in many areas of the Civil Code. It is expected that these measures will significantly improve flexibility and efficiency in companies as well as the administrative burden on citizens.