Recent research from the Federation of Small Businesses (FSB) suggests there were at least 3.4 million commercial disputes involving SMEs between 2010 and 2015. So what should you do if your business is heading towards a showdown with an employer, supplier, customer or competitor?
Pursuing a commercial dispute has tended to be a costly, lengthy and risky undertaking for most SMEs and it’s not hard to see why. Your lawyers will typically bill you based on the amount of time they spend working for you. Given that the average litigation case for an SME business is around 18 months, it’s not uncommon for these bills to spiral to the level of the damages that you’re claiming. The FSB calculates that SMEs incur costs of £11.6 billion each year by pursuing a dispute.
Even if you can find a lawyer to act for you on a fixed, capped or ‘no win no fee’ basis, you’ll still have to pay up front for disbursements such as court fees, barristers and expert witness fees within a climate where court fees have increased exponentially and recovery of costs for the winning party has reduced drastically.
Add to that the risk that you could be liable for at least some of the
We recommend you visit the following site for more complete information and related topics. Article source: http://www.smeweb.com/2017/04/10/current-system-dispute-resolution-stacked-smes/