Legal Guard’s has created a new solution dubbed ‘Kgwebo Guard’ which is aimed at protecting Small, Medium and Micro Enterprises (SMMEs).
Kgwebo Guard offers insurance cover for SMMEs on various legal matters such as General Legal Advice, Civil matters, advice on Statutory and Regulatory Matters and Labor Matters to mention but a few.
Kgomotso Ratlhaga. Legal Guard Managing Director said SMMEs have a challenge when it comes to afford legal fees which is why the compnay has developed a policy that is tailormade for them. “The amount of loss in terms of assets and infrastructure suffered by SMMEs is disturbing. Yet insurance providers are not eager to insure SMMEs and prefer to deal with larger organizations.”
Legal Guard has previously done research on the relationship between insurance companies and SMMEs. The findings led to the development of this policy. The company says SMMEs have started expressing interest in this new policy.
“Legal Guard found it fit to extend this kind of cover to SMMEs because they operate in an increasingly complex business environment. This is attributable to the rise in the volume of legislation and regulations, because of these dynamics, unaffordable legal fees end up undermining the stability and sustainability of these businesses and their owners’ personal being,” Ratlhaga said.
The Managing Director urged industry players to make space and protect SMMEs because they play a pivotal role in the country’s economy, bring growth and innovation in local communities. The policy is expected to ease operations for SMMEs especially when they are faced with legal battles and challenges. For the past years, Legal Guard has taken a key interest in ensuring that business owners especially small businesses are equipped with all the legal knowledge they need in operating their respective businesses.