Small firms, such as those using serviced offices in Cardiff, may try to save money by taking risks like cutting insurance cover as the economy starts to recover.
According to a study carried out by insurer RSA, more than two-fifths of all UK companies become more conservative when the country is in recession.
However, as finances begin to strengthen, bosses may be encouraged to save money for other activities by implementing cost-cutting risks, the company noted.
Enterprises adopting this approach may benefit by saving some money in the short term, but a substantial bill could be the result if something goes wrong.
David Greaves, small and medium-sized enterprises trading director at RSA, said risks "are always present", adding: "It is important that businesses ensure they have the most appropriate cover at all times."
RSA advised firms to ensure they have appropriate cover in areas such as business interruption and professional indemnity.
Last week, Andrew Hawes of Newton suggested bosses of companies see spending cuts as an inevitability as opposed to being unfair.
