Business Impact Target (BIT)

As a statutory regulator, we are subject to the government’s Business Impact Target (BIT) following the provisions of the Small Business, Enterprise and Employment Act 2015 which aims to:

• reduce regulatory burdens on business and voluntary or community bodies;
• ensure greater transparency around the impact of regulation on business; and,
• provide greater incentives for regulators to design and deliver policies that better meet the needs of business.

We are required to publish an assessment of the economic impact on business of changes to regulatory policies and practices which are in scope of the BIT which includes:

• BIT assessments for qualifying regulatory provisions (QRPs) along with the BIT score
• a summary of non-qualifying regulatory provisions (NQRPs)

Current Parliament

• ONR's NQRP summary report 16 December 2020 - 17 December 2021
• ONR's NQRP summary report 13 December 2019 - 16 December 2020

The government’s annual progress reports on the BIT are available on gov.uk