consumer protection regulations

Competition And Consumer Protection

OFT guide helps firms comply with Consumer Laws

The Office of Fair Trading (OFT) has published a free guide for businesses on how to comply with competition and consumer laws. Aimed specifically at smaller businesses, ‘A quick guide to competition and consumer protection laws’ has been published following recent legislation changes that affect how businesses operate in the UK. These include Consumer Protection Regulations which introduced new rules on advertising to other businesses. The guide also offers advice on a range of other potential pitfalls for businesses, including what constitutes illegal cartel activity, how to comply with distance selling rules and creating fair business contracts. OFT senior director of policy Ali Nikpay said: “An important part of our role is to provide guidance to help companies self&n... »

Unfair Tactics hit Small Business Profits

As many as 53% of the heads of SMEs believe that their profits are being harmed by the unfair sales practices of their rivals. New research by the Department for Business, Enterprise and Regulatory Reform has revealed that in addition to more than half of SME owners being wary of lost profits due to unsavoury practices; Of those that believe their profits are being eroded: 10% estimate that rogue traders cost them 20% of their revenue 38% believe that rogue traders cost them between 10 and 20%. As many as 20% of small company owners have previously worked in organisations that have used unsavoury practices and 12% of those have been either trained or actively encouraged to use unfair tactics to make a sale. The government are to crack down on this problem with measures, if they are approve... »