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Compliance costs: perception versus reality

There's a widespread belief that compliance costs impose a significant burden on New Zealand businesses - especially small businesses - and even the government now recognises compliance costs as a serious constraint on entrepreneurship and economic growth. A study by Business New Zealand in 2003 concluded that firms employing 0 - 5 workers spend 313 minutes a week on compliance. Perception? or reality? A recent study from Otago University has taken another look at the compliance burden, as Stephen Knowles explains.