Entrepreneur Dick Smith has flagged a move into politics, announcing he has registered the name “The Dick Smith party”.



Smith made his announcement during a speech at the launch of the Salvation Army’s Red Shield Appeal – an event attended by the New South Wales premier, Mike Baird.



The founder of Dick Smith Electronics, aviator and renowned adventurer said he was frustrated by bureaucratic regulation, mentioning the light aviation industry as an example.



Smith also said there were more than 2,000 Australians with incomes of more than $1m who did not donate to charity.



The Salvation Army hopes to raise $15.26m in Sydney and $74m nationally from its 2015 Red Shield Appeal.



Smith said he would commit $100,000 to the Red Shield Appeal.