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20 Nov 2023

A focus on independent stores and ‘browse-only’ shops can help to reverse the fortunes of the struggling high street, new research shows.

15 Nov 2023

The British Independent Retailers Association (BIRA), which works with over 6,000 independent businesses of all sizes across the UK, has outlined its expectations from the government...

9 Nov 2023

Cytech has been named as the provider of Best Retailer Services in the 2023 BikeBiz Awards, recognising the positive impact of its service to the cycling industry. More than 25,000 Cytech...

7 Nov 2023

New survey data from Deloitte has shown a seven percentage-point rise in the number of UK consumers - from 19% in 2022 to 26% in 2023 - who intend to spend more in the last three months of 2023,...

7 Nov 2023

Communities across Cornwall can now apply for grants of up to £100,000 to improve High Streets, the council has said.

6 Nov 2023

A Christmas campaign encouraging Warwickshire’s independent town businesses to shout about why shoppers should buy from them this year is making a comeback.

6 Nov 2023

With just over six weeks until Christmas, The Times has named what it says are the seven prettiest towns in the UK for Christmas shopping, making special mention of the presence of independent...

2 Nov 2023

Cytech, the internationally recognised training and accreditation scheme for bicycle technicians, has relaunched its Cytech theory one online learning course delivering an introduction to...

23 Oct 2023

Cardmitment campaign launched to remind people of the power of sending greetings cards

23 Oct 2023

The International Longevity Centre has released new guides to show the steps retailers need to take to make their shops more accessible for the elderly.

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SMEs say they are 'too small' to need insurance

Posted on in Creative News

A significant number of small businesses in the UK are underestimating the need for insurance.

A survey by Axa revealed that most start-ups founded in the past three years operate without any cover whatsoever. Only four in ten said they had insurance of any kind.

It found that the most serious gap was in employers' liability insurance, which covers workplace injuries and illness. The survey showed that just 41% of those who have taken on eligible staff have this cover, despite the fact that it is a requirement and non-compliance is penalised.

  • 72% of those without cover said their business was ‘too small' to need it
  • 25% had not considered it at all
  • 8% said it was too expensive
  • 3% had forgotten to renew

The report added that freelance professionals are the least insured section of the UK economy - only a quarter of those in their first three years of business have professional indemnity cover.

If your business needs insurance, visit specialist retail insurer Butterworth Spengler  

 

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