Introduction

Is it possible to build a culture of a well-informed and well-educated SME (small and medium-sized enterprise) community that understands the major elements of a national competition law regime, the logic behind its creation, how individual firms should comply with the law, and how they are able to actively also exercise their rights within the law?

For many regulators, policymakers, and enforcement bodies, knowledge of competition law is a given. It is, after all, the key subject that they deal with on a day-to-day basis. However, for the owners, managers and staff of most SMEs, it is only one of many pieces of disparate information that they must understand, process, and comply with.

Competition law is also complex. It can contain many different precepts, involve a sophisticated understanding of both economics and law, and in many jurisdictions, may also contain numerous per se provisions and exemptions. It is not necessarily the easiest body of regulations for a layperson to absorb, understand, and apply in practice.

There is often substantial information asymmetry and many wrongful assumptions. Regulators who know the chapter and verse of their laws and regulations expect small businesses to be equally fluent in these requirements. Large firms, who have considerable internal resources and access to specialist advisers and trainers, know much more than their smaller counterparts, thus accentuating the disparities in their relative strengths.