The Federation of Small Businesses (FSB) has welcomed a Competition and Markets Authority (CMA) report which supports problems identified by FSB with competition in the legal services market for small businesses.
With only seventeen per cent of service providers publishing their prices online, FSB is pleased the CMA has backed its calls to improve transparency in the market, including considering whether legal providers should be required to publish their tariffs.
“Smaller firms can often fail to recognise a problem as a legal issue, or assume a legal resolution to be too expensive, time consuming or risky to pursue. Greater transparency on price and quality of legal services will encourage more small businesses to seek expert advice when necessary.
“We’re pleased the CMA is now looking to close the gaps in the market we identified, improving the legal services industry for small businesses.”
FSB will continue to engage with the CMA as it works toward its final legal services report, to ensure effective measures are implemented so that the legal services market works better for small businesses.