A SURVEY commissioned by a Portsmouth firm of solicitors has found almost two-thirds of small and medium-sized businesses which seek legal advice do so about sacking under-performing employees.
Quality Solicitors Large & Gibson found the second largest legal issue is about making redundancies when restructuring.
Selling their business is also an issue SME owners are concerned about.
Peter Dymock, partner at Quality Solicitors Large & Gibson, said that taking pre-emptive legal advice is a smart move for firms.
The survey found the main reason for SMEs finding these issues challenging, was that firms don’t know or understand what their legal requirements and obligations are, and leave it too late to get legal advice.
He added: ‘In this challenging economic environment when SMEs need to run efficient and effective businesses in order to survive and grow, it is more important than ever to make sure they have a clean bill of legal health.
‘This means keeping on top of employment law and preparing in advance for difficult situations.’