23 May 2014

Small businesses doubt value of legal advice

Small businesses are adopting a 'DIY' approach to getting legal advice.

Only 13 per cent of small businesses believe that lawyers 'provide a cost effective means to resolve legal issues', according to a study of 9,703 such businesses in England and Wales.

The research, conducted by Professor Pascoe Pleasence and Dr Nigel Balmer of University College London, also showed that only 12 per cent of legal problems in these organisations lead to demand for help from a law firm. Some 52 per cent of problems are handled by the businesses on their own. The research, Findings of the Small Business Legal Needs Benchmarking Survey, is seen as the first of its kind and a response to a gap in knowledge about this sector. Source: Legal Services Board