The Czech Republic, which has taken over the presidency of the European Union (EU), has announced plans to reduce the administrative burden on small businesses. The plans include allowing small firms to do business across EU borders without having to register subsidiaries in the countries concerned as well as allowing firms to file only one set of accounts rather than submit several to different Government agencies. A Czech Government source said: "We want to make life easier for small firms. We see them as the cornerstone of economic activity."

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