Q I want to increase the size of my business and one option I am looking at is to take on a couple of apprentices. Not only will they be easier to afford, but I want young people to be able to come up through my business and train to the systems I have in place. What are the advantages and disadvantages of taking on an apprentice and how do I go about it?

A Offering the right apprenticeship can provide you with a high level of demand from young people willing to start their career within a particular discipline.

It is important to remember that employing an apprentice carries the same responsibilities and obligations as fully-trained staff, and although they may be cheaper, there are strict rules which apply when employing young people.

There are several recruitment and apprenticeship websites available for you to post adverts on the Internet. www.graduatelink.com and www.reed.co.uk both provide a free service to assist with finding graduates and potential apprentices.

To find out more information on apprenticeships, visit http://www.apprenticeships.org.uk/

Q I have been building up my business for almost ten years now and want to look into floating the firm. What do I need to be aware of and what should I have in place before I can take the first steps along that route? What are the advantages and disadvantages of floating my business?

A Floating a company on the Main London Stock Exchange can be an expensive and daunting experience. An alternative for smaller companies which may wish to experience public listing, while at the same time not get tied to the strict disclosure and regulations required under the main market rules, is the Alternative Investment Market (AIM).

According to The London Stock Exchange, since AIM opened in 1995, more than 2,200 companies have been admitted and more than £24bn has been raised collectively.

An AIM quotation offers:

* A flexible regulatory regime

* Access to a unique, globally respected market

* Access to a wide pool of capital

* Enhanced profile - heightened interest in your company

* Increased status and credibility

* Currency for and easier rules on acquisition

* Eligibility for a range of tax benefits.

Before you start the process of becoming listed on AIM it is important that you seek professional advice.

Throughout the flotation you will need the assistance of a nominated advisor or "Nomad". These are typically brokers or independent corporate finance firms.

Typically, firms can spend up to 24 to 36 months preparing to float on AIM and it can be a costly exercise.

You can find out more information from www.londonstockexchange.com

Q Due to competition from abroad, my business has hit a hard time and I am finding myself facing the unfortunate position where I will need to make redundancies for the first time. What advice can you give and what dangers do I face?

A It is very important that you seek professional advice when considering making redundancies. Two of the most important issues to consider are having a consultation process and informing the Department of Trade and Industry. Both of these points will depend on how many people you are making redundant but, in every case, you will have to enter into a consultation process with the people or department you intend to make redundant.

ACAS, the Advisory Conciliation and Arbitration Service, will be able to provide you with advice about the required process for redundancy. You can also download their guidance booklet from http://www.acas.org.uk/media/ pdf/h/o/B08_1.pd

Published: 14/03/2006