Every day, nearly 60 percent of the American workforce goes to work for a small business. Small businesses produce 40 percent of our nation’s goods and services. We see the fruits of their labor in our corner drug stores, local cleaners and florists.
In addition to producing competition and jobs, small business owners provide a tremendous value to our community. Many small business owners sponsor little league teams or provide complimentary goods or services to local charities.
Trial Lawyers Attack Small Business
Even though small businesses produce countless benefits for our communities, they are under attack. Trial lawyers, like the ones we see on television, are filing frivolous lawsuits against small businesses at an alarming rate. Here are just a few of the statistics:
A Gallup survey, commissioned by the National Federation of Independent Business, found that 24 percent of small businesses either had been sued or were threatened with court action in the last 5 years.
According to a Gallup survey, one out of every five small businesses decide not to introduce a new product or improve an existing one because of feat of litigation.
According to a survey of 500 CEO’s product liability suits caused 36 percent of their companies to discontinue products, 15 percent to lay off workers, and 8 percent to close plants.
A national survey of 2,181 companies found that businesses increased liability limits by about 12 percent this year, the largest increase in recent years.
More frivolous lawsuits mean more wasteful costs for small businesses. Rather than investing in a new product or employee, trial lawyers are forcing small businesses to focus on frivolous lawsuits. As a result, overcautious and often unnecessary prevention methods, in addition to costly liability insurance, have become a considerable hindrance to small business owners. Small businesses are the life-blood of our economy. It’s just a shame that an elite group of greedy trial lawyers has targeted these productive members of our communities with frivolous lawsuits. This is just another reason why we need to save our legal system from exploitation by an elite group of greedy trial lawyers.
How You Can Prevent the Attack of Greedy Trial Lawyers
To learn more about the ways to give back our legal system to decent, honest, Americans with real grievances, join Citizens for a Sound Economy Foundation by calling 1-888-JOIN CSEF.