A majority of MPs do not consider bureaucracy to be a significant issue for Britain's businesses, it has emerged.

According to the results of a study, of 335 participating MPs, one out of every three respondents confirmed that executive-generated bureaucracy was an area of significance for the UK's business community, reports the Financial Times.

The survey was conducted by the Industry and Parliament Trust.

However, 93 per cent of MP's confirmed a belief that the nation's universities are not producing graduates with business-friendly skills.

"It's a real concern if only one-third of MPs see regulation as an issue - from a small business point of view, [red tape] is seen as being a real problem," said David Frost, director-general of the British Chambers of Commerce.

Indeed, 41 per cent of participants considered regulations from the EU to be a significant issue.

The Industry and Parliament Trust was established in 1977.