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Australian First: Innovative Law Firm Opens the Box on Legal Information Saving SMEs Thousands $$$$ a year

September 6, 2017 Business News No Comments Email Email

An Australian first, Law In A Box by Progressive Legal is the new oracle for deciphering the up-to-date legal news and information for SMEs. The latest in disruptive law practice, Progressive Legal, the service draws back the curtain of the mysterious world of legal information to provide the newest legal key changes, news and hot topics affecting small to medium enterprises in Australia today –  effectively enabling small business owners, start-ups and entrepreneurs to understand their legal obligations and help protect their business.

The most recent ABS Selected Characteristics of Australian Business Report 2015 – 2016 shows, the smaller the businesses is, the more likely it’s exposed due to a lack of poor legal documentation and knowledge. This could be due to a number reasons including; lack of knowledge about the measures available to protect their businesses, or financial concerns associated with engaging traditional law firms to seek correct documentation and finally concern and intimidation associated with employing a law firm.

The impact of this finding is demonstrated at the other end of the business lifecycle in the latest ASIC Insolvency Statistics Report that looks at companies entering external administration. The report released in August 2017 found that between 2016 – 2017, 8,031 businesses entered external administration with 2,432 ending in a Court wind up, which could have potentially been avoided with the right legal foresight.

Ian Aldridge, Principal Lawyer and Owner of Progressive legal, said, “These statistics are alarming given the vast majority of Australia is made up of small and medium sized businesses. Undoubtedly disruptive, Law in a Box is helping SMEs cut costs of legal counsel by pulling back the curtain on legal information. Usually tightly guarded by gatekeepers who utilise the traditional model, advice on the latest changes to law can quickly become cost prohibitive for Australian businesses. Most are not aware of the plethora of laws that apply to them. What is hidden in these statistics is probably a high percentage of SMEs that don’t have a lawyer to advise them on a continuing basis like they may have with an accountant for instance. It’s a last port of call, not a first thought.“

He went on to say, “By empowering businesses to understand the law and how it affects their enterprise, we are encouraging them to be more proactive to put the right protective measures in place which will hopefully positively influence some of these statistics and avoid costly legal escalation in the long run. Knowledge is power and by educating SMEs about the relevant laws that apply in Australia, they become aware of how important legal advice really is to a business and how it can save business-ending decisions or extremely costly litigation.” 

Covering core issues affecting any small business such as business structure, corporate law, intellectual property protection, commercial law, workplace, defamation and dispute resolution, Law In A Box is an affordable investment that gives owner-operators the knowledge and insight to stay informed, saving them either asking the questions or from having to pay to get that information from a lawyer.

Mr Aldridge went on to say “This service is not designed to replace legal counsel, but instead educate SMEs about their rights and responsibilities in the ever-changing legal landscape. At the end of the day, the onus falls back on the business owner and this is constantly overlooked. This is particularly important to consider ahead of periods of growth when businesses have more to lose in areas including IP Protection, Human Resources / Workplace, profitability and customer or employee. We want businesses to stay informed and protected with Law In A Box. We’re proud to launch it – it’s the first of it’s kind in Australia.”

The subscription for Law In A Box which provides information with easy to understand webinars, articles, how to’s, useful links, case studies and FAQs is normally $495 per year but has a special introductory price of $197 to celebrate launch.

Ian Aldridge is available for interviews about his approach to a new kind of legal service in Australia. He can cover topics regarding SMEs, entrepreneurs, start-ups.

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