State of Indiana takes first steps towards SBR
SBR or Standardised Business Reporting is a proven way to reduce red tape cheaply and effectively. The strategy is a simple one: find all of the duplicative reporting requirements in government, analyse the definitions that are similar but not identical, and work to conform or harmonise those definitions.
If a government has five different agencies that collect information about the number of employees working in business, but uses five different definitions for “number of employee” then the costs imposed on business are (more or less) five times higher than they need to be.
Of course, getting agencies to cooperate on ways to minimise those differences isn’t always easy, but the first place is to identify where they exist in the first place.
The State of Indiana is using the power of the crowd to help identify these areas of duplicative reporting, which is a terrific first step towards reducing unnecessary reporting burden on business, helping make doing business simpler. Read more here.
