Government launches competition law guides for SMEs

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competition law

The Competition and Markets Authority has acted in response to research showing poor levels of understanding of competition law, by releasing films designed to help SMEs avoid breaking the rules 

It has never been more crucial for UK business leaders to understand the risks involved with anti-competitive conduct. And yet for many, competition law remains fraught with confusion and ambiguities.

In fact, earlier this year, an independent report commissioned by the Competition and Markets Authority (CMA) concluded that 77 per cent of firms either had a hazy grasp of competition law or were completely oblivious to its existence.

The research also revealed that, while 55 per cent of businesses know price-fixing is illegal, 18 per cent believed that it is acceptable to agree prices with rivals (27 per cent were unsure).

It is in response to these alarming findings that the CMA has now launched a new suite of materials, predominantly aimed at SMEs, with a view to helping directors fully comprehend why competition law exists – and how to avoid falling foul of it.

The user-friendly materials – which include eight animated films, a quiz, a checklist on what to avoid and enlightening case studies – include advice on the law and how to comply, as well as information on what business owners can do if they suspect a rival firm is breaking the law.

Click here for Director’s five-point guide to staying on the right side of competition law, authored by Alex Chisholm – CEO of the CMA.

About author

Nick Scott

Nick Scott

A former editor-in-chief of The Rake and deputy editor of the Australian edition of GQ, Nick has had features published in titles including Esquire, The Guardian, Observer Sport Monthly and Rolling Stone Australia and is a contributing editor to Director magazine. He has interviewed celebrities including Hugh Jackman, Daniel Craig and Elle Macpherson, as well as business people including Sir Richard Branson, Charles Middleton and Nick Giles and Michael Hayman MBE.

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