For SMEs in particular, legal compliance can be a costly and time-consuming business; a reality backed up by a number of surveys, including a 2013 study* commissioned by the Legal Services Board. In this study, 38% of SMEs interviewed said they had experienced a legal problem, with 46% saying the problem had a tangible impact on their business and 23% reporting a significant loss of income as a result.
The problem of compliance for SMEs is compounded by the cost of getting legal advice and help to resolve a legal issue. In fact, the LSB survey found that a staggering 51% of SMEs try to deal with the legal problem on their own without any external expert help and guidance.
So, what are the legal risks SMEs face when trying to run a compliant and successful business?
As a provider of legal services to small businesses over many years, we’ve compiled a selection of case studies to highlight some of the day-to-day risks faced by SMEs, as well as the solutions to avoiding financial loss and reputational damage, covering:
Protecting intellectual property
Expanding a business and taking on employees
Changing the legal structure of a business
Going into partnership
Disciplining and dismissing an employee
Regaining possession of a property
Giving employees time off
A copy of all eight case studies can be downloaded from here.
For more information about our legal services for SMEs, please call us on 020 8731 2424 or email email@example.com
* ‘In need of advice?’ – Finding of a small business legal needs benchmarking survey – Legal Services Board, 2013