Risk & Business Magazine Cooke Insurance Group Fall 2015 | Page 26

Small Business and Legal

Are Owners Being Distracted By Legal Disputes With Their Customers?
BY: DAS CANADA

I

n Canada, 3 out of 10 small business
owners dealt with the stress and
disruption of handling a legal dispute
during the past three years. In an
attempt to resolve these disputes, both
parties were required to hire lawyers,
having to pay up to $400 an hour. The
top three sources of legal conflict are:
1. Collecting money owed by customers
2. Contract disputes with customers
3. Contract disputes with suppliers
Considering there are millions of selfemployed and small-medium business
owners, that’s a lot of unnecessary
distraction and time away from running
their business. Especially when a
solution is available to both empower and
protect them in case of unforeseen legal
disputes.

• 1 out of 10 small business owners know
another owner who lost their business
due to a legal dispute
“Our research findings suggest that
while business owners appreciate the
significant impact a Y