No manager wants to face the possibility that they may need to make some of their staff redundant Yet with the credit crunch, it would be irresponsible for managers struggling with costs not to think about the possibility

There’s no denying it – buying a business creates a real buzz of excitement The key is to make sure this keenness doesn’t cloud your judgement and leave you with a business you don’t want, or don’t know the full history of

Every employer, at some point or another, will have to fire one of their employees It isn’t easy, and it certainly isn’t fun, but whether it is because of economic cutbacks or a poorly performing employee, sooner or later it is going to happen

Contracts of employment come in all shapes and sizes, but if you’re in full time employment and not a freelancer there are certain guarantees you should be entitled to If your contract doesn’t contain these things, your employer is breaking the lawy – and if you’re the employer, well – you could be leaving yourself open to costly legal battles should your employees feel litigious

It sounds like an obvious cliché to say it, but like many clichés there’s truth in it: happy employees are more productive And yet it’s amazing how often you hear of companies suffering from massive turnover, instability and a failure to live up to their full potential by ignoring this

Employment contracts are some of the most important UK business documents you will ever sign in your working life, and yet they are written in a deliberately convoluted and confusing manner, which often makes it difficult to get the clear points of what you’re signing up for Take your time, and read and re-read every contract, but pay special attention to the clauses, to ensure you understand them

Nobody imagines their office will suffer from a fire… and to be honest, the level of preparation often reflects this Previously in the UK, fire certificates were handed out by the fire services, but as of 2006, businesses are required to carry out their own fire risk assessment

It makes for depressing reading for the government, that Britain is losing £100 billion per year on sick days, but small business owners should be even more concerned if they see a ‘sick leave culture’ forming in their own office While the government can deal with such losses better, small businesses could see their own profits slipping down the plughole, and a good sickness and absence policy could make all the difference between a thriving company and one that ends up going under