Before waking I became a journalist. Late in life I discovered the pleasure of writing but I couldn’t have coped with the job in my dreams – editor of The Sun.

The next night I became a politician, but once elected I had neither the necessary tact nor patience. Well before dawn I discovered my dream job – a bookie, the perfect role for a man reasonably competent at arithmetic who loves sport and enjoys taking risks. I started with a pitch by the parade ring at Bangor-on-Dee and quickly built a nationwide chain of betting shops.

I’ve stopped dreaming. Just because I’ve been a pretty successful shoe repairer doesn’t mean I can be a good bookie or publican. It is a mistake to think success can be transferred from one industry to another. A cobbler should stick to his last.

Q Around 25pc of my sales come from local authorities and from what I’m hearing I can expect those contracts to be renegotiated downwards. I’m wondering where I stand? Do I dig my heels in?

A As the public sector swiftly switches its emphasis from spending to saving, private companies that supply national and local government are certain to suffer – especially suppliers of non-essential goods and services.

Local authority managers that are having to look hard at their payroll costs are bound to put an end to "nice to have" luxuries and "belt and braces" advice from consultants. I hope you are supplying something that local government desperately needs. Firms that have relied on public sector contracts for years may have to rethink their business model.

However, the need to cut costs doesn’t provide an excuse for anyone to break a contract. I don’t condone any big business or large local authority that uses its buying power to bully suppliers into cutting the price or size of an order that has already been agreed. A deal is a deal.

Check your contract carefully to make sure the details are set in stone. If you have a watertight agreement stand your ground and make them stick to the terms – only give in to pressure if you can use the opportunity to negotiate the security of a longer-term commitment.

Q The Government says it is conducting a root and branch review of employment law. If there was one law you could change or scrap what would it be?

A If we were a nation full of perfect employers there would be no need for so much legislation. However, we need employment laws to protect workers in a wide range of issues – discrimination, paternity pay, sickness,
under-age working, dismissal, bullying and so on.

It is not necessarily the law that is at fault but the way laws are interpreted by the human resources world. I am not bothered about the legislation, but I know many businesses complain of red tape, and I object to some of the processes developed to keep us within the law.

Oral and written warnings can be part of a deceitful game played by an employer trying to dismiss someone without the risk of losing an employment tribunal. Even worse are "performance management plans" which pretend to set targets that help a weak employee get back on track.

In reality they are designed for failure – evidence that the poor performer must go – defensive red tape to ensure another tribunal victory.

This paper work trail, which HR professionals call "best practice", is often a shabby way of treating colleagues. Everyone deserves the blunt truth in a face-to-face chat: "we made a mistake"; "you are in the wrong job"; "it is time for you to work elsewhere"; "we will pay a period of notice and help you look for a new job". This honest approach works – it is much better to part as friends. The vast majority of workers prefer a candid conversation to a formal letter in the post at home.

I look forward to the day when tribunal decisions stop being based on box ticking. Employment is all about people. Proper paperwork is important but a good filing system is not necessarily the sign of a good boss.