It’s reported that small businesses lose over £11 billion annually on business argues. According to the research done by the Federation of Small Businesses, about 70% of small and mid-sized companies are involved in at least one dispute. The most popular topic of the argues is debt payments.
To solve the trouble, the federation should adopt a new plan to assist the decreasing the disputes at their start or even try to avoid them at all.
The government has one approach in plans: appointing a special commissioner that would help the businesses settle the argues for a cheaper price and shorter time.
The idea of the FSB goes further to the establishing of an online hub that would be operated by the commissioner. They would provide a proper individual guidance and assistance for small companies in settling their disputes. It also has a suggestion to review the fees that courts have.
Their charges are rising year by year, and companies pump their money to those courts to settle their disputes with the borrowers. There’s already a 19% fall in judgements against businesses during the first half of 2016.