Month: March 2023

With a focus on producing high-quality, consistent content across multiple platforms, Bee is committed to creatin...

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Bee Ingram

With a focus on producing high-quality, consistent content across multiple platforms, Bee is committed to creating engaging and effective messaging that aligns with the brand’s voice and strategy.

In the same way that reiki is energy, crystals also emit energies – but why would you use crystals when giving reiki to a client? It’s because crystals are naturally formed in the Earth and vibrate at different frequencies, depending on their geological make up.

If you hold a crystal in your hand, you may feel a tingle or similar sensation which will differ from one crystal to another, and it’s these frequencies or vibrations that help to hone in to elements of our own energy. That’s why different crystals can help with different aspects that we may need help with. Using crystals can enhance the reiki and even target more substantial blockages in your client’s energy field. You could also stock crystals that you can infuse with reiki and recommend them to your clients as an upselling opportunity.

This guide covers all the basics around crystal healing with reiki.

How to pick the right crystals

Each crystal has its own set of ailments and circumstances it can help with. Broadly speaking, the colour of the crystal relates to the chakra it helps with, which is a good initial indicator when making your choice. If you feel you need to make more specific choices, then you may find looking at books or courses on crystals useful.

You don’t need to know every crystal and their uses to begin using them: with reiki, using your intuition is usually the best way to be guided when picking which crystals that client needs. As long as your intention is for the highest good of your client, you’ll be on the right track.

Best crystals for reiki healing

Make sure that you do proper research when buying crystals to make sure that they are ethically and responsibly sourced, and also of high quality. Reiki is a practice based on the highest good for all, so investing in such crystals is to remain true to these principles. We recommend the following as the best choices for reiki crystal healing:

Clear quartz

If you only start with one crystal, start with this one. As a master crystal, it can be used in place of all others and it can amplify the effects of the other crystals when used together.

Amethyst

Another good crystal to start with is amethyst, as it’s a useful all-rounder but especially good for opening up the crown and third-eye chakras. It increases intuition, calms the mind and is known for its calming properties.

Red jasper

This crystal is associated with the root chakra and is a great way to help with grounding clients at the end of a session.

Rose quartz/Jade

For gentle healing and opening up the heart chakra, these two can work to soften the heart and bring love (including self-love) for the client.

Smokey quartz

Mostly used for transmuting energy from negative into positive, smokey quartz is a great crystal to wear while conducting your reiki sessions.

Selenite

Selenite is a really effective crystal to clean the aura/energy field at the end of a session for client and practitioner and for charging the other crystals.

How to use crystals for reiki healing

How you use crystals during your sessions will depend on your preference and also how you are guided to use them if using your intuition.

Common methods include wearing crystal jewellery as a practitioner to shield yourself from your client’s energies and to keep yourself grounded, or chakra balancing by placing a corresponding crystal on each chakra for all or part of the session while you continue to send reiki. You could also consider making crystal grids under or around the reiki bed to amplify the energy, and cleansing the auras or energy fields of yourself and your client at the end of each session.

Once you’ve decided which crystal you are going to use, either place it directly on top of your client’s body (with permission) or nearby – for example, underneath the reiki bed or to the side of them. You can also hold the crystal in your hand, using it as a lens to send the reiki through.

How to clean and charge the crystals?

Crystals will accumulate energy as well as giving off their own, so it’s important to cleanse them between clients and charge them regularly to keep them working efficiently. There are several ways you can do this:

Selenite

Placing your crystals close to a piece of selenite for a few hours or overnight will cleanse and charge them. You can do this by buying selenite plates and bowls to put your crystals in.

Water

You can place some (but not all) crystals in fresh water or salt water to charge them, especially during a full moon. Make sure to check that your crystals are safe to put in water – as an example of what can go wrong, selenite should never be allowed to get wet or it will dissolve.

Smudging

Using the smoke from herbs such as sage, thyme, rosemary or lavender like an incense, you can cleanse the crystals by passing them through the smoke.

Reiki

Holding the crystals in your hands and sending them reiki can charge them with new energy, and you can set intentions for their next use.

Burial

Putting your crystals in the ground lets the Earth cleanse and charge them. As with using water, you’ll need to check which crystals are safe for this method, as some won’t be suitable.

Get your reiki insurance with Protectivity today

Whether or not you decide to integrate crystals into your reiki practice, it’s still important that you include good-quality insurance cover. As well as protecting yourself and your business against any issues, you’ll want to make sure that your investment into quality, ethically sourced crystals is protected and insured in case of damage, too.

At Protectivity, we offer specialist insurance policies for qualified reiki practitioners. Our insurance includes Public Liability cover in case of injury or damage to a third party, equipment cover and Professional Indemnity. Our cover is available from just a few pounds a month, and is available through flexible payment plans, so you can get peace of mind for minimal outlay. Take a closer look at our options for reiki insurance policies here.

Get Reiki Insurance from Protectivity

*Disclaimer – This blog has been created as general information and should not be taken as advice. Make sure you have the correct level of insurance for your requirements and always review policy documentation. Information is factually accurate at the time of publishing but may have become out of date.

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Professional Dog Grooming Techniques For Beginners

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29 March 2023

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6 mins read

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With a focus on producing high-quality, consistent content across multiple platforms, Bee is committed to creating engaging and effective messaging that aligns with the brand’s voice and strategy.

If you’re evaluating dog grooming as a potential career move, then it’s likely that you’ve already got some experience in the basics of canine care, whether it’s for your own pet or those of friends and relatives.

While this natural experience gives you a starting point to work from, offering dog grooming services professionally requires knowledge of more advanced dog grooming techniques, many of which you can learn on specialist courses. Owners that are paying you good money will expect a high-quality, comprehensive service, with no areas left out and with a clear benefit to the dog’s appearance, health and happiness.

This guide covers all the key facts around professional dog grooming techniques, including all the most important areas of a dog and how to deal with them in turn.

Bathing

Some dogs like being bathed a lot more than others. Equally, some dogs need regular bathing much more than others, depending on the type of fur or hair that they have, and whether they’ve been anywhere particularly muddy or dirty. Nonetheless, it’s a basic part of the grooming service that most owners will expect.

The best way to approach bathing is to make the experience as relaxing for the dog as possible, with the right water temperature and the removal of any noises or distractions that might make the dog agitated.

Nail trimming

This can be a particularly tricky area for beginners to get right because dogs tend to move around, meaning you’re often aiming at a moving target. However, it’s an important thing to get right so that a dog’s hygiene can be maintained, and so they don’t scratch people or objects too sharply.

If dogs have had their nails clipped from a very young age and are used to the process, then they will be far more amenable to it. But in any case, a softly-softly approach pays dividends. We recommend starting with a very small clip of one nail, followed by some positive words and a treat for the dog. As you repeat this process, the dog should feel more at ease with the trimmer.

Coat clipping

Getting coat clipping right is absolutely crucial. If you don’t take off enough fur (or take it off in the wrong places) then you’ll end up with a messy-looking dog and an unhappy owner. Take off too much, or use the clippers carelessly, and the dog can easily get hurt.

A few simple practices can reduce the risk in this area. Bathing beforehand gives the dog damp fur that’s easier to cut, and gently talking to the dog can help keep it calm. Take particular care around the face and ears, and consider buying low-noise clippers as some dogs get agitated by the sound of them.

Brushing and combing

Not every dog will need its hair brushing: those which have particularly short hair pretty much take care of themselves. But in most cases, brushing out dirt and knots is a key part of keeping dogs healthy. This should be done gently, and with the help of some scissors to cut out any problem areas that brushing can’t solve. Long-haired dogs may need brushing as much as once a week, whereas dogs with shorter, denser hair will need brushing less often.

Ears, teeth and eyes

These three areas are all particularly sensitive parts of a dog, and so have to be treated with the utmost care. Just like you might give tear-less shampoo to a child, the same applies to dogs, so that their eyes don’t become irritated. Brushing teeth should be done gently and slowly, so that its gums aren’t damaged and so it doesn’t feel uncomfortable with the process. And you should also keep an eye out for ear wax, which can especially build up in dogs with droopy ears.

Equipment

It’s important not to cut corners on the equipment you use to groom dogs – better kit makes your job easier, can deliver better results, and can convince owners that it’s a job that you take seriously. Make sure that any sharp equipment like trimmers and clippers are cleaned, lubricated and resharpened regularly, for reasons of hygiene and performance. And don’t underestimate the value of keeping an area clean and tidy, and repreparing the grooming station between each dog.

Overall experience

If you’re going to attract repeat custom and groom the same dogs on a regular basis, then it’s vital that the dog feels comfortable with the whole experience. This means creating a relaxing environment that the dog won’t feel worried about entering, and taking care with each grooming session so that the dog learns that it’s a place they will enjoy being in. Achieving this will make the dog far more receptive to professional dog grooming techniques in the longer term.

Get dog grooming insurance with Protectivity

If you’re a beginner and still picking up professional dog grooming techniques, then it’s natural that you’re going to make some mistakes along the way. However, in the business world, mistakes can often lead to financial consequences, and so it’s vital you take steps to protect yourself from any financial loss.

It’s for this reason that we at Protectivity provide comprehensive dog grooming insurance, supporting newcomers and experienced groomers alike. Our cover includes Public Liability Insurance in case of injury or property damage; up to £100,000 of Care, Custody and Control cover in case of illness or injury to a dog, and up to £30,000 of cover for your specialist grooming equipment. That way, you can have the confidence that you can build your dog grooming career without an unfortunate incident leaving you out of pocket.

Find out more on our dog grooming insurance options, including our competitive rates and flexible payment plans, here.

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Mediumship Training

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With a focus on producing high-quality, consistent content across multiple platforms, Bee is committed to creating engaging and effective messaging that aligns with the brand’s voice and strategy.

17 March 2023

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5 mins read

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With a focus on producing high-quality, consistent content across multiple platforms, Bee is committed to creatin...

Get mediumship insurance from Protectivity

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With a focus on producing high-quality, consistent content across multiple platforms, Bee is committed to creating engaging and effective messaging that aligns with the brand’s voice and strategy.

Mediumship is a unique and rewarding role which offers very different opportunities and experiences. It also provides a very special and valuable service to those who may be struggling with grief and loss by connecting with their loved ones who have passed, and relaying messages to them which can bring comfort, closure, relief and peace.

If you’re interested in becoming a medium, or you have some experience but want to take the leap into making a living from your abilities, then this guide will help you to find out what you’ll need to build a respectable and viable business.

Mediumship training requirements

Although there are no legal requirements for becoming a medium, it does come with a set of roles and responsibilities that should be upheld and given proper consideration if it’s a career you wish to pursue. The best way to develop your medium skills is to invest in a course that will take you through the essential knowledge and practices that should accompany any legitimate, professional medium.

Formal training to become a medium is a relatively new concept. Mediumship itself is centuries old but it’s only more recently that it has started to be recognised as a credible profession. As a result, more courses are becoming available and there are now even some accredited courses out there, meaning you can reassure your prospective clients that you are genuine and that you take your work seriously.

Mediumship training providers

If you’re looking for mediumship training, then these organisations are good places to start, whether you’re looking for a course yourself or even if you want to become a trainer further down the line:

International Practitioners of Holistic Medicine

This global holistic training provider certification board offers provides for individuals and training providers who meet their criteria.

The Spiritual Workers Association

A UK-based guild of spiritual workers and spiritualistic service providers, the SWA aims to promote excellence and improve standards in the field of spiritual work.

The Quality Licence Scheme

This UK-based scheme is part of the Skills and Education Group. They work with training providers to help them develop high-quality courses and/or training programmes for non-regulated markets such as mediumship.

Mediumship training courses

Mediumship and psychic services are finally starting to be recognised as legitimate professions. Although still currently unregulated and no formally recognised qualifications are available, there are places starting to offer accredited courses in these areas, which means you can gain a certain amount of learning-based credits and a certificate. Being able to demonstrate that you have completed an accredited course can be a great selling point to your potential clients.

Mediumship Diploma Course Level 3

This course by Centre of Excellence takes up to 150 hours to complete online. There’s no time limit for completing this course and offers lifetime access. It’s made up of 11 modules and is designed to give you all the information, skills and knowledge about mediumship and spirituality that you’ll need to become a practising medium or psychic medium. The course is suitable for beginners with no prior experience or knowledge.

Psychic Development Accredited Practitioner Diploma

This online course by Gateway Workshops allows you to study in your own time with access to the course for one year. It’s made up of 12 modules with a short test and case study assessment at the end to gain the accreditation. Although this course isn’t specifically aimed at those wanting to become a medium, it does cover all the basics of using energy and psychic abilities in various ways, including communications with spirit, and reading for others.

Specialist mediumship training colleges

You can also explore training opportunities with a college known for quality courses from top experts. Gaining knowledge and insight from well-established and respected mediums and psychics can be a great way to fine-tune and expand your own medium skills even faster.

There are many leading colleges for mediumship training, some involve the training being held at residential centres and online where students have the opportunity to study a variety of spiritual and psychic disciplines including mediumship.

How much does mediumship training cost?

Costs for mediumship training vary by training provider, and whether the course is online or residential. For example, a local or online workshop lasting a couple of hours may only cost between £30-50 but a weekend or full week in a residential setting may cost £300 or more.

However, opting for a recognised qualification doesn’t have to be expensive: for example, there are recognised Mediumship Diploma Courses available for £127.

Get your Mediumship Insurance today

Once you’ve gained a good level of mediumship training, you can explore business opportunities as a self-employed medium. There are many options to explore, but whichever you pick, one essential that remains constant is the need for good-quality insurance cover. As well as protecting you and your business from any unforeseen circumstances, it’s another way to reassure your potential clients that you are a serious and legitimate medium which may give you an additional edge over the competition.

At Protectivity, we offer specialist insurance policies for mediums who have obtained an accredited qualification. Our insurance includes Public Liability cover in case of injury or damage to a third party, equipment cover and Professional Indemnity. Our cover is available from just a few pounds a month, and is available through flexible payment plans, so you can get peace of mind for minimal outlay. Take a closer look at our options for mediumship insurance policies here.

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How To Grow Your Gym Business

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16 March 2023

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6 mins read

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Get gym insurance from Protectivity

Bee Ingram

With a focus on producing high-quality, consistent content across multiple platforms, Bee is committed to creating engaging and effective messaging that aligns with the brand’s voice and strategy.

Gyms are as popular across the country right now as they’ve ever been. This has led to a huge rise in the number of gym businesses, and much greater diversity in the types of gyms available. Whether it’s bodybuilding and weightlifting, general fitness, on-trend lifestyle gyms or anything in between, there are gyms out there to serve every demand.

All this interest can be a curse as much as it can be a blessing. If you’re already running a gym in a saturated marketplace, it can be difficult to know how to take your enterprise to the next level and increase your membership and profitability. This guide gives you seven great tips on how to grow your gym business.

Our tips on how to grow gym business

Naturally, some of these tips will be more suitable than others to your specific needs. Some of these may be ideas that you’re already pursuing, but could perhaps do with a refresh or change of approach. In any case, these are the seven tips we’ve picked out that should help the broadest possible range of gym business owners:

Giveaways and competitions

Never underestimate just how much people enjoy a competition or a freebie. Holding regular giveaways is a great way of encouraging engagement through your existing membership, as well as grabbing attention from prospective new members, too. This doesn’t have to be a grand affair with a huge jackpot prize: it can be small, targeted incentives such as gym-related accessories, free months on memberships, or one-day gym passes. Adding welcome gifts to new memberships can also act as a powerful incentive, too.

Referrals and repeat custom discounts

Some of the most useful tools in generating more business and members are working out just outside your office door right now. Your existing customers are already positively engaged with your business, so getting them to work spreading the word is one of the simplest ways to expand your customer base. You can do this through a referral system, which gives membership discounts and offers to those who recommend a friend or relative that then takes out their own membership. Similarly, giving discounts for long-term membership will make your most loyal members feel even more positive about your brand.

Encourage email engagement

It may seem a little old-fashioned now, but emails can still be highly effective in reaching out to people with your message. Generating a regular flow of news and communications to send to people will make them feel that there’s a real buzz around your gym. This is especially the case if you can mix up your content flow with a variety of different emails: this could be your latest offers and discounts, tips on exercise and nutrition, community event details, general encouragement, or a combination of all of them in a newsletter-style email.

Maximise your website

Connected to the previous point, variety should be the spice of life on your website, too. After all, once prospective customers have gained an interest in what you have to offer, your website will almost certainly be their first port of call. They should be able to get all the information they need to know and explore lots of different types of content that shows your gym in the best possible light. Video content is especially important: creating some short promotional and longer instruction videos is a great way to connect with people: these can easily be hosted on YouTube and embedded into your web pages.

Develop your social media presence

No doubt you’ll already have a presence on a number of social media channels, but are you making the most of the opportunity? It’s your platform to share stories of satisfied customers, build a strong community, and even create workout groups that can then come together at your gym. If you employ personal trainers directly, then you may also want to explore software that allows customers to book sessions via social media, to maximise ease of experience.

Join forces with other professionals

Just because there are other gyms in your area doesn’t have to mean that they’re automatically your competitors. You may want to consider joining forces with another gym that has different facilities to yours: offering a common membership or special offers that encourage crossover between the two gyms and give customers access to more amenities and equipment. And don’t forget to keep in touch with the personal training community: they’ll have insights on what’s going on among local gym-goers, and how you can adjust your business model to take advantage of new opportunities.

Foster a positive community

The community and culture within a gym can be critical to its success. For example, if a gym has a more macho, masculine feel to it (especially around the free weights area), then it’s easy for other members to feel intimidated and end their memberships. If you’re trying to appeal to a wide range of gym-goers, then a positive and inclusive atmosphere is a must. This can be encouraged by holding social and community events, expanding group exercise opportunities, or perhaps even opening a cafe/restaurant area where people can unwind.

Get gym insurance with Protectivity

However, you choose to grow your gym or personal trainer business, you’ll need good insurance to protect your financial standing and business assets. This is especially the case if you employ staff, as you’ll need to have employer’s liability insurance in place.

For more than 25 years, Protectivity has been providing gym insurance policies to businesses just like yours. Our cover includes Public Liability, Business Interruption Cover, Employers’ Liability and Buildings & Contents Cover, so however big and successful your business becomes, you can operate with confidence that you’re protected against the unforeseen. Our policies can also cover gyms that are open 24 hours a day.

Find out more on our affordable gym insurance, including flexible payment plans.

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09:49:31 GMT • 14 November 2024

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How Long Do You Need to Keep Business Insurance Policies?

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8 March 2023

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3 mins read

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With a focus on producing high-quality, consistent content across multiple platforms, Bee is committed to creating engaging and effective messaging that aligns with the brand’s voice and strategy.

Just because your business insurance policy has been renewed and the old one is no longer valid, it doesn’t mean your business should throw out those old documents. In fact, even if the documents are several years old and you’re no longer insured by the same provider, it’s important that you continue to hold on to that paperwork.

Below, we’ll answer some key questions about insurance documents, including how long to keep business insurance policies, the risks involved with not keeping them, and what you can do if yours are lost or destroyed.

How long should you keep records of a business insurance policy?

You should keep a copy of your business insurance paperwork for seven years after the end of the policy. You should also keep digital copies of your paperwork for an additional three years on top of this.

If you’ve ever made a claim on your business insurance, you should also retain any paperwork related to your claim for seven years. However, claims related to employers’ liability insurance, public liability insurance and subsidence insurance should be kept for ten years.

Benefits of keeping historic insurance documents

The biggest benefit of keeping historic business insurance documents is that you have them on file should you need to refer back to them. This can help with your business’s administrative tasks and help with any future planning.

According to Section 5 of the Limitation Act of 1980, following a legal issue, there is a deadline of six years for action to be taken. So, in the event that this happens and a claim is made against your business, you will need these documents to refer to.

However, by far the most important reason for keeping any documents related to your business’s finances is to ensure you don’t face fines from HMRC. You can face fines of up to £3,000 or be disqualified from being a company director if you’re unable to provide the relevant documents when asked.

It’s important to note that this only relates to business insurance documents. You don’t need to hold on to your personal insurance documents, and you can destroy these once they’re no longer valid.

What to do if you no longer have your documents

If your business insurance documents over the past seven years have been lost, stolen or destroyed, then it’s important to do what you can to replace them. Because you should always keep digital copies of these records, paper copies should be easily replaced. Digital documents, or printouts of these documents, should be enough should HMRC ever request them.

You may also want to alert HMRC that these documents have been lost. Alerting them means you’ve done everything in your power to stay on top of the situation should they request to see your documents in the future.

Insure your business with Protectivity

Looking to secure the future of your business? Protect your business with our small business insurance – get a free quote today.

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How to Get Business Insurance and Bonding?

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6 March 2023

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5 mins read

Contributors

With a focus on producing high-quality, consistent content across multiple platforms, Bee is committed to creatin...

Get small business insurance from Protectivity

Bee Ingram

With a focus on producing high-quality, consistent content across multiple platforms, Bee is committed to creating engaging and effective messaging that aligns with the brand’s voice and strategy.

Running your business comes with many rewards, but there are also plenty of risks to be aware of too. However, there are solutions available that reduce the financial risk and ensure your business can continue should the unexpected happen.

Two of those solutions are business insurance and bonding. Below, we’ll take a look at how to get business insurance and bonding, why you may need them, and what sort of businesses should consider having them in place.

What is bonding for small businesses?

One of the most common bonds for small businesses is a surety bond.

Surety bonds are put in place by small business owners to protect the business and its customers. While they’re not a legal requirement, a surety bond may be necessary in order to conduct certain types of business, acquire a licence, or join associations.

If you’re a small business, particularly one that is new and hasn’t yet built a reputation, it can be difficult finding customers. Surety bonds are a way of reassuring potential customers that you’re an honest business that is willing to uphold its duties. If you have a surety bond in place, and your business does encounter an issue that leads to you being unable to fulfil your obligations, then the customer can file a claim to recover their losses. This way, the surety bond reimburses the customer and not your business, which could potentially save you from an expensive and time-consuming legal issue.

Some businesses may require you to have a bond in place before they agree to work with you. This isn’t because of a lack of trust, but to protect their financial interests should the unexpected happen.

Other types of bonds

As well as a surety bond, which applies to a wide range of businesses, there are other bonds that are specific to certain industries.

A licence bond or permit bond – required in order to be granted a licence or undertake a specific type of work. It guarantees the holder will comply with the laws and regulations required to undertake the work.
A performance bond or contract bond – a type of surety bond in construction used to ensure work is completed to a satisfactory standard.
Bid bond – used to protect a customer to ensure a company fulfils work following a successful bidding process.
Payment bond – this protects all third parties involved in a project to ensure they receive payment.
Supply bond – ensures all materials and supplies are fulfilled.
Maintenance bond – protects the customer after the work has been completed.
James Bond – a spy for the British secret service.

What are the differences between bonds and insurance?

A bond covers your customers, rather than your business. However, by extension, this covers your business as it ensures you don’t lose money in the event your business finds itself in a position where it can’t fulfil a contract. A bond helps establish your business as one that’s trustworthy and credible and makes you a more appealing choice for potential customers.

Insurance offers a far more comprehensive level of protection. Depending on the policy and the level of cover, insurance protects your business from loss and damage, as well as in the event a claim is made by a customer or member of the public.

Does your business need to be bonded, insured or both?

There’s only one type of insurance your business is required to have by law, which is employers’ liability insurance if you have more than one director, or any number of employees or volunteers working for you.

All other types of insurance aren’t a legal necessity – but are something you’re advised to have to cover you in the event a claim is raised. Without the relevant insurance in place, your business could face lengthy and expensive legal battles that can potentially cost millions.

For many businesses, bonds may also not be required. However, in certain industries, they are, such as businesses in finance, construction and maintenance.

Having both insurance and bonds in place covers your business for a wide range of scenarios, decreasing the risk that your business (and your customers) will take a heavy financial hit should something go wrong. It also increases confidence in your business and showcases to potential customers that you’re trustworthy and legitimate.

When bonding insurance might be right for you

As we’ve already highlighted, in certain industries it may be required that your business has the relevant bonding insurance in place in order to be able to operate. This includes businesses such as:

Carpenters
Contractors
Construction companies
Cleaners and janitors
Electricians
Estate agents
Financial services
Handyman services
Home inspectors
HVAC installers
Insurance brokers
Notaries public
Painters and decorators
Plumbers
Roofers
Tax services

Even if your business isn’t part of the above industries, bonding insurance may still be something you want to consider, particularly if your business intends on working with the government, such as, for example, local councils or schools. However, bonding insurance only covers you in very specific instances. While bonding insurance may not be something you think is worthwhile for your business, you should undoubtedly consider business insurance to protect the future of your business.

Get a quote for your small business with Protectivity

While bonding insurance may not be for everyone, business insurance certainly is. Protect your business with our small business insurance – get a free quote today.

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5 Common Risks When Starting a Business

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With a focus on producing high-quality, consistent content across multiple platforms, Bee is committed to creating engaging and effective messaging that aligns with the brand’s voice and strategy.

3 March 2023

•

8 mins read

Contributors

With a focus on producing high-quality, consistent content across multiple platforms, Bee is committed to creatin...

Get small business insurance from Protectivity

Bee Ingram

With a focus on producing high-quality, consistent content across multiple platforms, Bee is committed to creating engaging and effective messaging that aligns with the brand’s voice and strategy.

Starting your own business is an exciting time as you chase your dreams of becoming an entrepreneur. Many entrepreneurs are risk-takers by nature, who have to embrace the unknown as they launch a new product or service into their industry.

When starting a new business, you should have plenty to look forward to, from being your own boss to trying new things. But there are several risks to be aware of that can impact your chances of success. Here, we’ll cover some of the risks when starting a business and how to minimise them.

Common risks associated with starting a new business

If you’re considering starting a business, it’s important that you prepare for potential risks that can threaten your business’ success. Of course, some risks are difficult to avoid, such as economic decline and market demand. But if you can find ways to mitigate potential risks, this can stand your business in good stead.

Here are some of the most common risks that affect new businesses and how to tackle them:

Financial risks when starting a new business

The excitement of starting a new business can make it easy to turn a blind eye to the financial risks associated with a startup. Being aware of these financial risks can help you make the best financial decisions for your company, and help you reap the rewards.

To increase your profitability, you’ll need a strategy to grow your sales and generate revenue. You may be relying on investors to get your business off the ground, and they’ll be expecting a return on their investment. So, it’s important that you have a plan in place to generate revenue and make a profit. Offering promotions to boost volumes of sales, and developing new products or service lines can be great ways to increase your profits and ensure you’re in a comfortable financial position.

To get your business up and running, you may choose to take out a small loan to tide you over until your profits start soaring. There are several types of loans and grants available to small businesses in the UK. In terms of grants, the government offers a variety of financial support options for new businesses that need financial aid.

Another risk to be aware of is sustaining your business over time. Making sure you have a financial plan in place that shows income projections, expected return for investors and how much cash you’ll need to break even can offer you peace of mind. Without planning ahead you could risk financial strain or even bankruptcy – so it’s vital that you have a roadmap in place to ensure financial security.

Regulatory risks for business owners to consider

When starting a business, it’s important that you meet the standards of your industry and any compliance requirements. Here are just some of the regulatory requirements for business owners to consider:

Industry regulations: Depending on the industry you work in, there may be industry-specific regulations that you must adhere to. For example, if you’re setting up a business in the finance sector, you will need to be regulated by the Financial Conduct Authority (FCA) who have strict guidelines you must follow.
Finance regulations: There are business compliance rules you must follow around tax, payroll, record-keeping and accounting, as well as dealing with HMRC. It’s important that you follow these regulations carefully to avoid being penalised.
Workers rights: There are several workers rights that you must follow, but the main three include national minimum wage (and being protected against unlawful deductions of pay), statutory minimum level of paid holiday and rest breaks, and protection against unlawful discrimination, unfair dismissal and unfair treatment for being a part-time worker.
Health and safety: There are several regulations around health and safety at work, under the Health and Safety at Work Act 1974. The act requires businesses to ensure staff have adequate health and safety training, a safe work environment that is properly maintained and adequate welfare provisions for staff at work.
GDPR: The General Data Protection Regulation came into effect in 2018 to provide a legal framework for companies to keep everyone’s personal data safe. This requires businesses to have strong data protection processes in place for handling and storing personal information.

Operational risks to consider

Another potential risk to be aware of when starting a business is what are known as operational risks. These include processes, systems or events that disrupt business operations. If not handled correctly, operational risks can threaten business success. Some examples of operational risks you need to be aware of include:

Fraud: Whether it be internal fraud where employees misappropriate company resources, or external fraud where independent parties outside your business attempt a cyberattack, bribery or theft – fraud can seriously affect your business’ livelihood.
Technology: Deficiencies or failures in your computer systems or software.
Safety: Violating or the risk of violating workplace safety measures, either physically or mentally.
Natural disasters: Harsh weather conditions, fire or other disasters that can put physical assets at risk, leaving it difficult for employees to perform their daily tasks.

Reputation management – how do I do it?

Your brand or company’s reputation can undoubtedly influence your customers’ decision to purchase. So having the unexpected strike can cause damage to your business’ reputation, leading to a decline in sales and profitability. Ensuring you have a plan in place to maintain your reputation can help mitigate the risk of a bad scenario occurring and your reputation being at stake.

Reputation management is a way for you to monitor how your customers perceive your business and take the necessary steps to improve your brand’s image. Often, this is centred around monitoring your company’s reputation in reviews and through social media like Instagram. But there are other steps you can take such as:

Understand your values: Know what your company stands for and make this clear to your employees, so they can ensure these standards are sustained. Make sure each member of staff knows what your company’s message is and how to reflect it to help maintain your brand’s reputation.
High customer service: Your customer service is the key to making a lasting impression on your customers, so ensure that it’s high quality. Great customer service increases customer loyalty, leads to referrals and helps maintain a good reputation of your brand and its values.
Plan for bad scenarios: Make sure you have a plan in place of how to deal with a potential bad scenario. Brainstorm potential scenarios that could damage the public’s perception of your business and how you would take action. For example, if a customer were to complain about the cleanliness of your premises, this would indicate that the standards need to improve.

Business protection – keep your business safe

You’ve put a lot of time, money and effort into bringing your business to life, so it’s only right that you’ll want to protect it. Here are some ways you can help to keep your business safe for long-term success:

Cybersecurity: Whether your business runs from just one computer or all members of staff work from individual devices, it’s important to ensure all technology is protected against cyberattacks. Not only do you need to secure your business’ data and financial information, you also need to adhere to GDPR by protecting your customers’ and employees’ data.
Outsourcing: If you need to outsource certain areas of your business to another company, you’ll need to ensure you aren’t liable for their misconduct.
Business insurance: While you may think you’ll never need to use it, business insurance is there to protect you against the unexpected. It will protect your business financially if you were to get sued by a third party, as well as additional extras you can add to your policy that are tailored to your industry. With the right cover, you can enjoy the day-to-day of your job with peace of mind, knowing you’ll have a helping hand available should disaster strike.

Get a quote for your small business with Protectivity

Here at Protectivity, we specialise in business insurance for small businesses across various industries. Our tailored business insurance can protect you against the unexpected, so you can embrace your new challenge to the fullest. Perhaps you’re a personal trainers needing personal trainer insurance who is starting their own business. Our affordable business cover can give you the peace of mind you need to open your new business with confidence. Get a quote for your small business insurance today.

Get Small Business Insurance from Protectivity

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Bee Ingram

With a focus on producing high-quality, consistent content across multiple platforms, Bee is committed to creating engaging and effective messaging that aligns with the brand’s voice and strategy.

Employers’ Liability Insurance vs Public Liability Insurance

Bee Ingram

With a focus on producing high-quality, consistent content across multiple platforms, Bee is committed to creating engaging and effective messaging that aligns with the brand’s voice and strategy.

2 March 2023

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6 mins read

Contributors

With a focus on producing high-quality, consistent content across multiple platforms, Bee is committed to creatin...

Bee Ingram

With a focus on producing high-quality, consistent content across multiple platforms, Bee is committed to creating engaging and effective messaging that aligns with the brand’s voice and strategy.

Both employers’ liability insurance and public liability insurance cover your business in the event an injury occurs and there’s a claim for compensation. However, there are certain key differences that mean your business may require one but not the other.

In this guide, we’ll take a look at employers’ liability insurance vs public liability insurance, including what each covers, why you might need it, and the risks involved by overlooking their importance.

What is employers’ liability insurance?

If your business has at least one employee, whether part-time, full-time, or even work experience, then by law you’ll need to secure employers’ liability insurance. It helps to protect your business should an employee sustain an injury and claim compensation.

It doesn’t matter how that injury might have occurred, or how little you perceive the risk of injury to be. For example, your employees don’t need to be working in a high-risk environment, such as a factory – even slipping on a wet floor or tripping over a chair leg can cause an injury for which your business may be held liable.

It’s your responsibility as an employer to ensure your business has the appropriate level of cover should the unexpected happen. If your business employs at least one employee then it’s a legal requirement to have the relevant policy in place and cover you for a minimum of £5m.

You should have employer’s liability insurance if…

There are many reasons to ensure your business has employers’ liability insurance. If you’re self-employed and a sole trader, or work with bonafide subcontractors, then it isn’t necessary. However, if anyone who works with you could be considered an employee – including unpaid volunteers – you’re required to secure employers’ liability insurance. This even includes temporary employees and students doing work experience. You’ll also need it if you don’t technically have any employees, but have a limited company with more than one director.

An obvious example is you’re a software development agency with three full-time employees and one part-time employee. Due to the risk of injury being low, the risk of a compensation claim by an employee is also low – however, you can never guarantee that there is zero risk. Because of this, you’ll need employers’ liability insurance.

A less obvious example would involve a self-employed graphic designer who periodically works with local students to provide them with work experience. While not technically an employee, this would still require a policy. Similarly, an electrician who hires a labour-only subcontractor (ie, one that doesn’t have their own tools) will also need employers’ liability insurance.

What is public liability insurance?

Public liability insurance covers you should a customer, client or member of the public make a compensation claim against your business. This would usually be a result of your business being at fault for injury or damage to property. These claims can be expensive and time-consuming, and public liability insurance covers the costs involved with any legal action.

Unlike employers’ liability insurance, public liability insurance is not a legal requirement. However, it’s recommended should a claim ever be raised against you, regardless of how low the level of risk may seem. In many circumstances, clients will want you to prove you have cover before working with you. Certain trade associations also require you to have public liability insurance in order for you to become a member.

You should have public liability insurance if…

Most claims come as a result of perceived negligence, which is a fairly broad term. For example, if you’re a painter and decorator and accidentally drill through a water pipe, it can be hard to argue against this being negligence. However, if a customer enters your small clothing store and spills a drink, which another customer then slips on resulting in an injury, this could also be perceived as negligence.

As a result, if your business serves customers or can be accessed by the public in any way, it’s advisable that you secure public liability insurance. This includes:

Builders
Cleaners
Coffee shops and cafes
Contractors
Estate agents
Events companies
Leisure companies and tourist attractions
Restaurants
Retailers
Spas and salons
Therapists
Tradespeople

If your business is office-based and contact with your customers and the public is low, it may also be something you want to consider. For example, clients may periodically visit your business premises for meetings, you may hold job interviews on-site, or you simply receive deliveries from couriers.

Even if you work from home, securing the appropriate public liability insurance should be something you consider, particularly if you sometimes work away from home.

The risk of not having the correct insurance in place

As we’ve already highlighted, if you have employees (or even volunteers and certain types of subcontractors) then having sufficient employers’ liability insurance is a legal requirement. By not having insurance, not only does your business risk facing astronomical costs in the event of a claim, but you also face fines of £2,500 per day until you have a policy in place.

Public liability insurance isn’t mandatory, however, if you choose not to have it then it’s important that you and your business understand the risk. Even if the risk to others is exceptionally low, accidents do happen. If you find yourself on the receiving end of a compensation claim as a result of injury or property damage, then without insurance the cost to your business is likely to be high. In many cases, the costs can climb into the millions, which may lead to bankruptcy.

With insurance, your insurer should pay any legal costs – including any compensation you may be required to pay – minus any excess you may have on your policy.

Summary

When it comes to employers’ liability insurance vs public liability insurance, it’s often more than simply a case of choosing one or the other. Depending on your business and who works for and with you, you may need one or the other – or even both.

Looking for new employers’ liability or public liability insurance? Protect your business with our small business insurance – get a free quote today.

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