According to employment law specialist firm, Peninsula, many of the UK's small businesses are unaware of new measures coming into force on October 1st which stipulate that they will lose their right to defend themselves in an employment tribunal if the employee bringing the action against them does not have a formal contract.
Speaking to the Telegraph this week, Peninsula revealed that around 80% of SMEs employing between one and four workers do not issue formal contracts, and could therefore potentially be affected by the rule change.
The employment law firm also suggested that many small businesses in the United Kingdom are unaware of the fact that failure to follow the government's new 13 step dispute resolution procedure will result in an automatic award increase of 50% in an unfair dismissal case, also from the beginning of October.
Peninsula has estimated the cost of introducing contracts and dispute resolution procedures at the businesses which do not already have them as being in the region of £1.5 billion.
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