Small businesses put off seeking legal advice
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The legal services market it is ‘not fit for purpose' for small businesses, UK lobbying group tells The Competition and Markets Authority (CMA).
According to the FSB, there is a 'considerable failure' among British legal services providers to adequately meet the needs of small businesses. They have argued that small businesses face numerous obstacles to obtaining professional legal advice, as well as multiple risks and challenges in evaluating the quality of the advice they receive. Because of these obstacles, many small businesses instead rely on informal advice or opt to resolve problems themselves by relying on existing 'trusted partners', such as their accountants.
Steep costs, complexity and uncertainty around time commitments can also put small businesses off seeking professional advice.
A survey by the Legal Services Board (LSB) found that on average, each small business experienced 13 legal problems in 2015. With many policy changes already coming into force this year, including the New National Living Wage and Pension auto-enrolment, every business should have access to advice and support to help ensure they remain compliant.
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