Business finance aggregator Alternative Business Funding (ABF) has partnered with legal platform LawBite to provide small businesses with access to legal advice and business finance.
Titled ‘Law and Money’, the collaboration will seek to help those business owners who struggling to make sense of the new post-pandemic landscape.
It follows a study by Lawbite which found that small- and medium-sized enterprises (SMEs) face on average eight legal issues every year, and the impact of SME legal problems on the economy totals roughly £40bn a year. These issues can range from contract disputes, intellectual property cases, regulatory issues or staffing problems.
ABF’s technology assesses both the availability of the funding through over 140 different finance products and provides insight into the suitability of the financial products available. ABF also provides access to government support schemes during the Covid-19 crisis.
By partnering up, ABF and LawBite can offer legal guidance to SMEs seeking funding; and funding guidance for SMEs in legal difficulty.
“We are very excited to be working with the innovative team at LawBite,” said Julien Tavener, chief operating officer at ABF.
“Legal and financial issues present business owners with two of their largest headaches and this collaboration will help provide actionable solutions to both issues.”
“The demand from SMEs is for easier access to expert advice, that is clearer to understand and more affordable – our alliance with ABF helps us deliver on this promise,” said Clive Rich, founder and chief executive of LawBite.