The amount of red tape coming from Brussels might just be enough for micro businesses to consider a move abroad – something that would require a foreign currency money transfer.
According to the Federation of Small Businesses (FSB), while the UK has put a three-year moratorium on new regulations for micro firms, European law introductions could be damaging to its members.
"The FSB has welcomed the government's commitment to help ease the burden of regulation on these businesses," said national chairman John Walker.
"But we are concerned that regulations coming in from Europe will hit small firms harder and as a result they will feel the impact of these on their firm much more."
According to the organisation, there have been more than 100,000 pages of new EU directives since 1997, with the total bill standing at €124 billion (£108 billion) per year across the EU.
Meanwhile, new statistics from Hiscox show that a fifth of small and medium enterprise owners have employed a family member – a decision which might help if moving the business overseas.