Employment can be a major step in the development of many small and medium-sized enterprises (SMEs), according to one expert.
The Federation of Small Businesses (FSB) said today that considerations such as health and safety and employment law can be a real test for a new business venture and that SMEs would do well to consider this.
Simon Briault, spokesperson for the FSB, said: "One of the biggest steps for a small business is the first time they employ somebody, and obviously a lot of new considerations come in there."
He added that insurance and risk management can be a big factor in SMEs looking to install their first employees and larger companies should consider dedicated staff for these issues.
"You're looking at maybe 50 or 25-50 employees before you start looking at a dedicated risk manager [or] somebody that handles office management," he concluded.
A recent study conducted by Experian in conjunction with Harris Interactive found that only 26 per cent of businesses have procedures in place to handle potential damage to company reputation – in comparison with a global figure of 35 per cent.
