When it comes to accessing legal services, SMEs have traditionally been stuck between a rock and a hard place.
Tom Dunlop, CEO and founder of Summize, argues that legal tech is bridging the gap between SMEs and legal services, and says this is more important than ever.
Accounting for 99 per cent of all UK businesses, SMEs need access to legal advice just like any other organisation, but in many cases, costs can be prohibitively expensive. Research shows more than two-fifths of SMEs believe the legal system is designed with only big businesses in mind.
On the other hand, SMEs often won’t have an in-house legal team, meaning the task of navigating complex legal documents and contracts is frequently left to self-employed and small business owners without any real legal knowledge or background.
With legal obligations and liabilities often hidden within the small print, many businesses – through no fault
Lloyds Banking Group is to cut 1,070 jobs under a plan to simplify structures in some back office operations.
The bank said that the shake-up would affect its group transformation and retail bank teams and result in 730 net jobs lost because the plans would also see 340 new roles created.
It marked the latest move by Lloyds to cut costs as profitability is squeezed by record low interest rates in the coronavirus-ravaged economy.
The announcement prompted an angry union backlash with Unite accusing the group of punishing loyal staff who had gone beyond the call of duty in supporting the bank and its customers through the pandemic.
A Lloyds spokesperson said: “This morning we shared changes to some of our teams and we can confirm a net reduction of 730 roles.
“These changes reflect our ongoing plans to continue to meet our customers’ changing needs and make parts of
FTAdviser and Financial Adviser have won the “Trade Press Personal Finance Publication of the Year” title for the second year running at the Personal Finance Society awards.
Additionally, Carmen Reichman, news editor at FTAdviser and Financial Adviser, was recognized in the Personal Finance Consumer Champion category, and Simoney Kyriakou, editor of Financial Adviser, was honored in this year’s Trade Press Personal Finance Journalist of the year category.
The judges were:
Gemma Siddle, director of Eldon Financial Planning and winner of the PFS’s Chartered Financial Planner of the Year Award in 2019
John White, chief executive of Sanlam Wealth Management
David Andrews and Keith Richards, chief executive of the PFS
“The Personal Finance Society Media Awards applaud editorial excellence in the coverage of financial services.
“The winning journalists and publications thoroughly researched important topics to delivered balanced and informative articles to assist their readership