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One of the biggest steps a small business will ever take is the first time the employ somebody, according to the Federation of Small Businesses (FSB).
According to the FSB, company directors of small firms are faced with "a lot of new considerations" after hiring their first employee, such as employment law, health and safety and risk management.
Research conducted by Experian Business Strategies Limited and Harris Interactive have highlighted risk management weaknesses within UK businesses.
Only 26 per cent of SMEs have a formal procedure in place to deal with a potential reputation or media crisis compared with a global average of 35 per cent.
Just under a third of UK businesses - 32 per cent - are prepared for a loss of key suppliers and 34 per cent for a loss of key customers, compared with the EU average of 43 per cent.
Simon Briault, spokesperson for the FSB, said: "When you first employ somebody, thats the first big point in a small businesss life when they start to consider things like risk management and business continuity and health and safety.
"There are employment laws that come into place and various things to do with insurance and health and safety that you have to take care of," he added.
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