Spring 2018 round-up Be prepared for the rule-breakers Competition is an essential part of business. Itcan be tough, but it also brings rewards. round-up A competitive business is often able to give its customers better service, and can grow and prosper as a result. In addition, competition generates innovation often from small firms wanting to make their mark. Just look at the tech industry and the number of successful start-ups that have challenged the status quo. But when competition is compromised, those who innovate arent rewarded, and those who play by the rules lose out to those who break them. This is where competition law can protect you and its in your interest to be familiar with it. By understanding what illegal, anticompetitive behaviour looks like, you will be more able to recognise where you may be at risk either as a victim or an unwitting participant. To help businesses get to grips with what is and isnt allowed under competition law, the Competition and Markets Authority (CMA) has developed a range of simple guides, including: nAn interactive quiz nCase studies of businesses that broke the law, and the lessons learned nOne-page guides detailing the main types of anti-competitive behaviour and why these are unfair for businesses and consumers The CMA is the UKs competition watchdog. It is there to make sure markets work well and to stop businesses trying to rig the game. For example, your suppliers may be working together to charge you an inflated price effectively pinching money from your profit margins. Or you could be trying to break into a new market, only to find that the existing players have teamed up to stop you from doing so. If you think a business is acting anticompetitively, you can report your concerns to the CMA. To find out more about why competition is relevant to your business and how the CMA can help if you think you have been a victim of anti-competitive practices, check out the CMAs animated films and other materials. Credit: Mary Reilly, Competition and Markets Authority nA series of short animated films iStock.com / enviromantic Back of the net for regulatory support West Bromwich Albions home ground, The Hawthorns, will be the venue for a Better Business for All (BBfA) Shared Learning Event on Wednesday 18 April. Attendees will get the chance to broaden their knowledge of business regulation and tap into the support mechanisms available to them in the Midlands. They will also get a tour of the Premier League clubs stadium. The aim of the event is to promote areas of excellence across the region. It will also be an excellent opportunity to discuss case studies, meet representatives from the Federation of Small Businesses, the Black Country Chamber of Commerce and the Local Enterprise Partnership (to name but a few), as well as to talk to local Growth Hubs. round-up For further information and to book, click here. For more on Better Business for All, see Backing business through BBfA in this edition of TSBN. Credit: Bob Charnley iStock.com / Baks Business matters Trading Standards is committed to making it easier for businesses to comply with the law and Trading Standards Business News (TSBN) is one of the ways it is doing just that. Formerly called Trading Standards News, this publication focuses on topics that are relevant to people running businesses, and aims to help them operate safely and efficiently while staying within the law. If you are viewing this edition on a web browser, you can download the TSBN app for Apple, Android and Amazon devices. Aware of crime? Report it anonymously to Trading Standards The level playing field that nurtures and promotes economic growth and development for businesses, locally and nationally, is maintained by Trading Standards. It partly does this by offering advice and assistance to honest and legitimate traders who request guidance on legislation, and by assisting those traders who lose their way in the world of Trading Standards and need a little help to become compliant. Where businesses choose to trade outside the law and ignore the advice and guidance given, Trading Standards tackles them by using appropriate enforcement action. A lack of willingness and cooperation to comply with trading law and any engagement in criminal activity undermines and harms legitimate trade. This inevitably leads to honest businesses being disadvantaged and having to compete against traders who offer inferior goods and services. To survive, the honest business may be forced to lower its standards or its quality of product, resulting in unsatisfied consumers. Left unchecked, this leads to a loss in consumer confidence, and has resulted in certain trade sectors being mistrusted. By working with Trading Standards, legitimate businesses that believe their sector is being damaged and undermined by unscrupulous traders, can now help focus and target Trading Standards resources, and reduce the harm being inflicted upon their profession. Those who believe their professions reputation is being damaged and undermined by illegitimate traders working outside the law, can now report people engaged in such activities via the anonymous, automated hotline 0300 303 2636, or by using the online reporting system www.centsa.org.uk/anonymous-hotline Working together to rid professions of unlawful traders will result in better reputations for these sectors, and improve consumer confidence and trust. This will, in turn, encourage growth in trade and economic development, both locally and nationally. Report foul play to create a level playing field for all. Credit: Brandon Cook For further information please contact your local Trading Standards Service