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LEGISLATION MAY BE on the way that makes it easier to run a co-operative, thanks to Minister for Jobs, Enterprise and Innovation Richard Bruton’s pledge to reduce red tape.
He is to draft legislation that will help to reduce the regulatory burden on co-operative societies and make it easier to start up and run co-ops, it has been announced.
This comes after the publication of the Companies Bill, which was also intended to reduce red-tape for companies.
Minister Bruton commented:
I have consistently said that if we are to get the economy growing and create jobs in Ireland we will have to work hard to reduce business costs. A crucial part of this will be to reduce those costs, which are directly under the control of government: red tape. I made a start on this recently with the publication of major reforms to company law, which will make it much easier and cheaper to start and run a private limited company.
He added that it is important to recognise that there are alternatives to the limited company, and that he is determined to ensure the burden of red tape is kept to a minimum.
This legislation addresses particular problems which have been identified in the co-operative sector, and will help ensure that this model can thrive and grow to its potential.
The proposed legislation will make a number of changes to the Industrial and Provident Societies Acts 1893 – 1978, including easing financial reporting restrictions by extending the period for the preparation and submission of the annual return and accounts; abolishing the statutory limit on individual shareholdings; and making it easier for cancelled societies to be restored on the register.
2010 is the UN’s International Year of the Cooperative.
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Less red tape in setting up any business, company, non profit would help a lot ! Alternatives to Limited companies do not protect the person establsihing the organisation.
If you want new companies to set up in a recession then look at reducing the risk to the individual.
Agreed.
There’s a lot of stuff from Health & Safety, Employment Law, Company Law etc that could be submitted online in a convenient manner. Instead small to medium size employers are swamped with paper trails for everything and anything. We are supposed to have a pretty hot IT sector. Get in there , get some apps designed for the various governing agencies and have real-time records instead of annual submissions and accounts. Cut out the paper trails and bring government into the 21st century
Sent from my iPod
Health & Safety Document, Human Resources Regulations Company Handbooks, Employment Contracts, then of course there is all the Accountancy stuff, VAT, PRSI/PAYE, Pensions etc and then all of the Business specific regulations and legislation – phew then of course you have to run the company as well. Insurances etc.
! any one looking for help with HR and Accounts can mail me, unemployed and looking, professionally qualified and very experienced :).
Thank you Minister and do more , bring back the small starter business !
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