Archive for February, 2013

Government proposals to tackle unfair trading


Proposals to make it faster and simpler for businesses to take legal action against firms that fix prices, missell or impose unfair trading terms have been announced by competition minister Jo Swinson. Under the proposals, a competition court – the Competition Appeal Tribunal (CAT) – would be established, including a fast-track process for small to medium firms. In addition, a ‘collective action’ regime would allow representative bodies to take court action on behalf of a group of firms or consumers. Other proposals include promoting the Alternative Dispute Resolution (ADR), designed to resolve disputes without going to court.

There is more on the proposals at:
http://news.bis.gov.uk/Press-Releases/New-help-for-consumers-
and-businesses-to-take-action-against-price-fixing-686c8.aspx

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Small firms struggling compared to large business



Over a third of small firms reported a fall in profits in the last quarter of 2012, compared to just 7% of large businesses, according to research by insolvency trade body R3. The research also reported that almost a quarter of small firms regularly reached their maximum overdraft limit, compared to just 6% of larger medium-sized businesses. R3 president Lee Manning said small enterprises were likely to be struggling because they have less access to capital and are more likely to be affected by changes in circumstance, such as the loss of a major client.

Read more on the research at:
http://www.r3.org.uk/index.cfm?page=1114&element=17755&refpage=1008

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