The Essex Federation of Small Businesses (FSB) has welcomed two new publications.
It says the independent Company Law Review and the Insolvency White Paper will help small businesses.
One of the Company Law Review's recommendations is to raise the threshold for statutory audit to companies with a turnover above £4.8m.
This would lighten the burden of audit on small firms.
The Insolvency White Paper includes allowing bankrupts "who are not dishonest or reckless to be discharged from debts and released from restrictions" in 12 months, rather than the current three years.
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