As highlighted in a recent YouGov survey, small businesses that fail to take care of legal issues are said collectively to be losing over £13.6 billion a year. The survey showed that the average SME in the UK is likely to encounter more than eight commercial legal issues a year, with more than 43% of these issues resulting in costs of £5,000 or more.
More than half of all issues were found to be in five key areas:
- Disputes (13.2%)
- Employees and Key Contractors (12.5%)
- Customers and Suppliers (11.4%)
- Terms and Conditions (9.2%)
- Software (9.1%)
Free online legal health check
If you’re concerned about legal issues facing your business, help is at hand. Our friends over at Lawbite have created a free online legal health check for businesses. It only takes a few minutes to complete, and at the end of the health check you get a free report clearly outlining areas of risk, along with a list of those that aren’t quite as pressing.
The report will also compare your results to the survey respondents, giving some industry benchmarks and allowing you to get a feel of how you compare to other businesses.
For more information, see our article “Accountancy Healthchecks – why it’s a good idea to get checked out“.
Claim your special offer
All visitors from Crunch who complete the legal health check will get access to unlimited free legal documents from Lawbite for a whole eight weeks. To claim this special offer, just remember to mention Crunch when you receive your legal health check results.
Want to get started? Head over to Lawbite to take the health check.
If you’re looking for more guidance on various legal matters, you can check out our Contracts and Employment Law sections for more information. Whether you’re looking for advice on Written Statements, contracts, and how to change terms in your contract, or if you’ve been overpaid and don’t know what the next step is, we’ve got it covered.