The proposed corporate killing legislation will not improve safety and is bad for business, revealed research by City law firm Norton Rose.
It said the research focused on companies which operate in potentially hazardous lines of business, such as the rail and construction businesses.
Two thirds of the companies surveyed said the proposals would have a negative impact on business, and had specific concerns about increased costs and bureaucracy.
The majority (64%) of those asked said they thought the legislation would promote blame culture, 66% saying it would make business risk averse. In addition, 59% of those interviewed said they were not convinced the new legislation would improve safety.
Norton Rose partner and head of transport at the firm Gordon Hall said: "The delay in the progress of the corporate killing bill shows how difficult it is to formulate an effective law on this sensitive issue.
"There have only been a handful of successful prosecutions in the last 30 years and these have been brought against small organisations.
"This survey demonstrates that while business is committed to safety issues, it has serious concerns about whether the right solution is being proposed."