Cardiff based accountants Graham Paul & Co is warning small businesses to read the small print when signing any form of contract or accepting an offer.

The advice comes following the news that a Spanish company, which was closed down for misleading advertising, has now reopened.

Last year hundreds of businesses were hit by the scam by The European City Guide (ECG), who led them to believe their details would be included in the company's directory for free if they signed a form. What most people did not see was that the small print detailed a cost of thousands of pounds for this service.

ECG is now back in business and inviting companies to include their details on a CD-Rom. Just as before, the small print contains a contract committing them to three editions of the guide at a cost of 917 Euros.

John Squire, partner at Graham Paul, comments: “Most contracts contain so much small print that many people simply skim over it. However as accountants, we are only too aware of how important such details are and therefore we advise you to always read the whole document before signing anything.

“Small companies are often a particular target as they have less man-power and most likely no legal department to spot a scam.”