Why Competition Law Matters to Businesses.
But suggest they might be being cheated by a supplier, or that a competitor might be getting business unfairly and you’re guaranteed businesses’ undivided attention. In spades.
Competition law exists to protect businesses and consumers from other businesses which are competing unfairly – cheating.
But talk about ‘compliance’ and businesses think about restrictive red tape rather than the ability to have a fair crack at running their business successfully. In the South West, for example, only 4% of businesses have run training sessions on competition law.
Being able to compete for business fairly and being charged competitive prices by suppliers is hugely relevant to businesses. Simple and effective compliance activity helps ensure fair competition and a level playing field for all.
The Competition and Markets Authority, the competition watchdog, has developed short, simple online materials to help businesses understand why competition law matters.
The CMA wants to help businesses to be competitive by recognising when other businesses (suppliers or competitors) are acting unfairly and illegally, encouraging them to report it and to stay on the right side of the law themselves.
While counting paper clips has its benefits, its competition that makes businesses successful.