Late last year, UKIP MEP Paul Nuttall made some small waves (eg here) with a press release about an “outrageous” EU directive that requires small businesses to pay €25,000 to set up. The problem is that it is complete and utter nonsense.
The Directive in question has been in place for over 30 years and only applies to publicly traded companies – hardly your average small business.
When contacted by North West Lib Dem MEP Chris Davies, here’s what the Federation of Small Businesses had to say on UKIP’s blatant scaremongering:
It is clear that this directive only applies to PLCs and not to limited companies..
Nowadays it is hard enough for small businesses to start up and survive without knocking confidence further. Publishing the wrong information is severely discouraging small businesses, especially start-ups. While this deters the individual business, spreading false information could damage the recovery of our economy as a whole.