A common refrain of British business owners is that they wish the UK tax and regulatory environment was more like that of the USA. But according to new research, companies in the United States find running a business just as challenging - if not even more so - than their counterparts in the UK.
Despite the well-known discontent of British firms over 'red tape', it turns out that American firms are even more concerned about taxation, legislation and regulation as a constraint on their ability to innovate; and surprisingly, they are also more worried about a lack of skilled labour and getting access to finance than British firms.
These unexpected findings emerged from the Cambridge-MIT Institute's International Innovation Benchmarking research project, which has been quizzing 3,660 companies on both sides of the Atlantic for the past three years about what they do to make themselves innovative and how they perform as a result.
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