Author: Tegan

12:20:00 GMT • 14 November 2024

Businesses you can start for under £1000

6 June 2023

•

8 mins read

Contributors

My main focus is managing the blog and product content for the Protectivity website ensuring everything aligns wi...

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Millions of people all over the UK dream of being their own boss and starting their own business. And while it’s unlikely that an entrepreneur will become the next Elon Musk or Jeff Bezos, it’s still immensely rewarding to start a business from scratch and develop it into a viable, profitable success.

The only problem that stands in many people’s way is the need to ‘speculate to accumulate’: that is to say that it can take a lot of initial investment to get a business idea off the ground. This can be off-putting if it involves getting into large amounts of debt in the early stages, or simply impractical for those who don’t have access to that kind of startup capital.

However, that doesn’t mean that it’s impossible! There are countless small business ideas out there that require minimal initial outlay – and in some cases, nothing at all – making them viable for anyone who wants to strike out on their own. In this guide, we’ve picked out 14 of our favourite small business ideas that can be set up for less than £1000.

Online retail

The ability to buy and sell goods from anywhere in the world has fundamentally changed the retail world forever, and opened up new opportunities for small business operators to grab their own slice of the action. You don’t need a huge amount of capital to get things up and running: just the right platform for selling your goods, and an initial amount of stock to get you started. By taking small steps, you can gradually grow your business without taking on too much debt.

Reselling and upcycling

These are two trends which have gained real popularity as hobbies in recent years, but have now grown to the extent that many people are now pursuing them as full-time jobs. Whether you find bargains in charity shops, in auctions, at car boot sales or from other sources online, selling on goods for profit can help generate a good income if you know what you’re looking for. It’s a relatively simple business to set up and manage, too.

Creative services

If you have a creative mind, then there are many different options that you can explore on a freelance basis. If you’re a good wordsmith, for example, then you can work as a copywriter, while those of a more artistic bent may want to consider becoming graphic designers and web designers. These are jobs that are perfectly practical to do from home – all you’ll need is a good computer, internet connection and any relevant software.

Pet grooming

When it comes to hiring, there are two ways in which people make mistakes when starting a business. The first is taking on too many full-time staff members too soon. The second is not bringing in any help at all.

When your business is still finding its legs it’s important to strike a balance between areas where it’s more important to save time, and where it’s more important to save money. Bringing in staff, be they full-time or part-time, can help to spread the workload, saving you time and energy, but it runs the risk of being a drain on your funds – at least at first.

Pet-sitting

When pet owners go away on holiday or for work reasons, they want to make sure that their dogs, cats and other animals will be cared for. Putting them in kennels and catteries can be expensive, so hiring a home-based pet-sitter is often a cheaper and more personalised alternative for them. You can provide a dedicated service that caters for an animal’s specifics, and you have full choice of which pets you’re willing to accommodate and which ones you aren’t.

Tutoring

There are always people who want to expand their education and knowledge, whether training for a particular qualification, studying for an exam or even just learning to play a musical instrument. In any of these cases – and a whole lot more – you can offer one-to-one tuition from the comfort of your own home. Along with your expertise, you’ll need some relevant qualifications, plus a DBS check if you’re planning to tutor children.

Cooking and baking

If food is your passion, then why not take that passion to a wider audience? All over the country are bakers, caterers and street food vendors that started their business on the strength of their own recipes and ingenuity. If you’re able to travel to events to sell your creations, then your expenses are pretty much limited to your transportation costs – as just about all the other equipment you’ll need is already in your kitchen!

Hairdressing

You have two equally exciting options to pursue if you have talent and experience in cutting and styling hair. The first is to provide hairdressing services from a designated space in your own home; alternatively, you could set yourself up as a mobile hairdresser and provide sessions in customers’ homes instead. Either way, you’ll enjoy full flexibility in when you work, and can enjoy all the rewards of your efforts.

Beauty treatments

Similar to the hairdressing services mentioned above, the same principle applies to all sorts of beauty treatments, as long as they don’t require lots of space or specialist equipment. For example, there’s nothing to stop you offering manicures and nail-painting services from your own home, or the homes of customers, rather than having to invest in expensive high-street retail space.

Laundry and ironing

If you’re going to do housework, then you might as well get paid for it! There is a substantial marketplace for laundry and ironing services, from people who need a freshly ironed shirt for work to those who need their clothes washed, but don’t have the time or the appliances in their own home. If you already have a washing machine, iron and ironing board, then you’re good to go – although you may want to consider transport costs so you can offer collection and delivery, too.

Dog walking

Britain is a nation of dog-lovers, and there are lots of dog owners out there that don’t have the time to give their pet the exercise it needs… which is where you can come in as a professional dog walker! While dog walking fees are relatively small – between £10 and £15 per hour is commonplace, depending on the area – you can multiply this by walking several dogs at the same time. This makes it a lucrative job you can do in your local area.

Life coaching and therapy

Any services that involve simply talking to someone, or conducting a physical treatment, can be done from home (as long as you have the suitable qualifications and experience). Putting in place all the equipment to offer massages and physiotherapy may require more of a substantial investment. But areas such as mental wellbeing help and life coaching can be more viable – and can help you make a genuine positive difference to people’s lives.

Handyman/handywoman

Some people are much better than others at DIY and other repairs, and those who don’t are often willing to pay to get somebody in to do a job properly on their behalf. If you have a bit of common sense, you’re good with your hands and you’ve got a basic set of tools, then you can start a business doing odd jobs and other minor bits of work. You’ll need to be able to travel, but it will be mostly light labour – and you’ll probably get offered plenty of tea!

Event organiser

While there are countless jobs that can be done from home with a computer, one that you may not have considered is organising events professionally. From weddings and funerals to village fetes and sports competitions, many large-scale events need a coordinator who can pull everything together and make sure that everything runs smoothly on the day. As a freelancer, you have total freedom to pursue the types of events that interest you the most.

Get small business insurance with Protectivity

Even if your small business idea needs very little startup capital – or none at all – you’ll still need to take action to protect your revenue and assets as you grow. That’s because you never know what might happen, and even a minor issue that is beyond your control can easily escalate into a substantial claim for compensation.

At Protectivity, we’re dedicated to making sure that aspiring entrepreneurs like you don’t end up out of pocket when unfortunate or unforeseen circumstances arise. That’s why we provide a wide range of affordable small business insurance policies for a variety of different specialisms, such as hairdressing and pet businesses insurance, with additional policies such as event insurance and counsellors insurance.

To find out more on our policies and how we can protect your business, get in touch with our team today.

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16:50:14 GMT • 13 November 2024

How much tax would I pay as a limited company?

2 June 2023

•

11 mins read

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Starting a small business can be extremely exciting and rewarding. If there’s something you’re passionate about, you’ve spotted a gap in a market, or you just want to be your own boss, then there are plenty of opportunities out there for you to become an entrepreneur. And perhaps the best part about it is that there’s no limit to how successful your business can be and how much money you can make… except one.

Tax isn’t exactly the most fun part of doing business but it is an unavoidable fact of life. As a small business owner, you’ll be required to pay tax not only personally, but also for the limited company you operate. Unfortunately, this can be a fiendishly complicated subject to deal with, as there are many different taxes, thresholds, rates and deadlines to comply with.

This guide makes all the basic ins and outs of limited company tax digestible and easy to understand. If you’re starting a small business, or thinking about doing so, then it’s essential that you understand the key facts around tax – even if you intend to recruit a qualified professional to take care of your tax affairs on your behalf. We’ll cover all the main kinds of tax both you and your company will have to pay, how to (legally) reduce your tax bills, how to get help with tax, and the other key considerations to make as you begin your business adventure.

What types of tax does a limited company pay?

There are five main kinds of tax to watch out for if you’re running a limited company. Some of them may not apply to your business, and you may be able to apply for reliefs and exemptions for others. However, you should keep abreast of all of them, as the thresholds and requirements are liable to change on a regular basis (especially in the Government’s annual Budget, usually announced in March).

Corporation tax

So, how much is corporation tax for a limited company? Well, there’s no fixed answer to that question, as it depends on a number of things.

As and when your company makes a profit, you will be required to pay a certain proportion of it as corporation tax. Your profit is defined as your takings for the year, minus any wages and dividends you pay out, any pension contributions, any expenses (more on that below) and any allowances or reliefs that you may be entitled to.

The rates that apply depends on how much profit you make within your accounting year. Your first £50,000 of profit for the year is taxed at 19%. After this, a tax rate of 26.5% is applied to all profits up to the £250,000 mark, then 25% after that. This is so that larger companies pay tax at a higher rate overall, because it means that all companies that make more than £250,000 profit in a year pay a total rate of 25%.

Employer’s National Insurance contributions

If you employ any staff within your limited company (even just one) then you will be required to make National Insurance contributions, on top of those that employees make themselves out of their wages. These contributions also have to be paid on any employee benefits and expenses that employees claim. The rate is generally 15.05%, although people including the low-waged may be exempt.

Business rates and small-business rates relief

The simplest way to describe business rates is that it is the business version of council tax. It applies to any properties within your company that are primarily used for business purposes; if you are a one-person business working from a computer at home, then business rates generally don’t apply.

While the costs of business rates to your local council can be substantial, there are several reliefs available to small businesses that can lower the size of bills, or sometimes wipe them out altogether. These include (and are not necessarily limited to): farm buildings, religious buildings, properties used for the disabled, and businesses with a low rateable value. Retail properties can also apply for 100% business rate relief for three months.

VAT

If your business turns over more than £85,000 in any 12-month period, you are legally obliged to register for Value Added Tax (VAT). If your turnover is below the threshold, you can also voluntarily register for VAT as it can sometimes be advantageous to do so. The current VAT rate is 20%, and you’ll be required to charge it on top of your normal fees for any goods or services you sell, and pay it for any that you buy.

The amount of VAT that you have to remit to His Majesty’s Revenue and Customs (HMRC) is whatever you’ve taken in VAT from other businesses from your sales, minus any VAT you’ve paid out in goods and services you’ve bought. So, for example, if you’ve collected £10,000 in VAT within a three-month period, and you’ve paid out £3,000, then you owe £7,000 to HMRC.

The good news is that the system works both ways: if you have paid out more in VAT than you’ve taken in, then you can apply to reclaim VAT from HMRC and they will refund you the difference. As the example here, if you’ve paid out £5,000 in VAT, but only taken £1,500 in, then HMRC should pay you £3,500.

Capital gains tax

If you are a limited company, then capital gains tax (paid on any profits you make by selling assets) doesn’t apply in the same way it would to a sole trader or a partnership. However, you are required to pay corporation tax on the profit instead: the money you make will count as part of your overall CT profit and therefore taxed at the applicable rate (see above).

What kind of personal tax would I have to pay as a limited company owner?

As the owner and director of a company, you will naturally want to take some (or all!) of the fruits of your labours as your earnings. There are a number of different ways to do this that are open to you, and which will be better will depend on the state of your business and your own personal circumstances. But in general, there are two main taxes that will apply to you personally:

Income tax for employees

Much as you would if you worked for another business, any wages you take are taxed according to normal income tax rates.

As of the 2023/24 tax year, the first £12,570 you earn each year are exempt from any income tax, but all your earnings beyond this up to £50,270 will be taxed at 20%. Earnings beyond this are taxed at 40%, and if you’re doing well enough to be earning more than £125,140 a year, then the highest rate of 45% applies. Please note that slightly different thresholds apply in Scotland.

You’ll also have to make National Insurance contributions in the same way as a ‘normal’ employee. This is in addition to the Employer’s National Insurance contributions mentioned above.

Dividend tax

You can pay dividends out of your company to yourself whenever you want, but this will be subject to dividend tax. As of the 2023/24 tax year, the tax-free dividend allowance is £1000, and this is expected to be cut again to £500 in 2024/25. Beyond this, dividends are taxed at 8.75%, which still represents a tax-efficient way to pay yourself compared to regular income tax.

However, if your normal pay plus your dividends totals more than £50,270 a year (which would normally move you into the higher rate of income tax), then you’ll have to pay 33.75% dividend tax on all your dividends above this threshold.

When should limited company taxes be paid?

These requirements vary from one tax to another, depending on the time of year you started your business, how much you pay yourself and other employees, and whether certain taxes are applicable to you. As a general guide, the following timescales normally apply:

Corporation tax: nine months after the end of your business year (i.e. if your business year runs from 1 January to 31 December 2023), then your Corporation Tax bill will be due around the end of September 2024

VAT: this should be remitted to HMRC quarterly, no more than 37 days after the end of each designated three-month period. You are still expected to submit a VAT return every three months if registered, even if you don’t have any VAT to pay for that period

Business rates: you will normally receive a business rates bill around February or March, detailing the monthly instalments you’ll be required to pay for the following financial year

Employers’ NI: should be paid at the same time as you make each payment of wages to your employees (i.e. weekly or monthly)

Income tax and dividend tax: this could be through Pay-As-You-Earn, an annual Self-Assessment with associated payments every six months, or a combination of the two

What should I do about tax when starting a limited company?

If you’re worried that the above is overly complicated and too much to keep track of, then don’t panic: you’re certainly not alone in that. Even the most experienced entrepreneurs and small business owners can find limited company tax requirements perplexing.

That’s why it’s always a good idea to hire the services of a good accountant when starting a limited company. They will be fully up to speed with everything mentioned in this guide, and any upcoming changes that may affect you. They will be able to organise your payslips and tax returns, and give you all the information you need about what you need to pay and when.

How can I legally reduce my limited company tax bill?

Tax evasion is illegal and never a good idea, even if your business is struggling. However, the complexity of tax regulations means that there are a number of legal ways that you can reduce the amount of tax your or your business has to pay. Using dividends instead of PAYE to pay some of your wages, as mentioned earlier in this guide, is an excellent example of this and common practice among small business owners around the country.

This is another area where having an accountant really comes into its own. They’ll have the expertise and experience to advise on areas where you can bring your tax bill down, such as business expenses you can claim that you may not have been previously aware of. While you’ll need to commit a certain amount of money to hire an accountant’s services, they can often save you many times you outlay in tax each year, making it a very worthwhile endeavour.

Get small business insurance with Protectivity

If you’re just starting out with a small business, there’s a lot to get your head around – and tax is just one of the complex challenges to navigate. Given the risks of starting a business, anything you can do to protect yourself and your enterprise from financial harm is worth doing, which is why good insurance cover is essential right from the start.

At Protectivity, we specialise in comprehensive insurance cover for countless small businesses just like yours. We offer hairdressers insurance and insurance for pet businesses and dog groomers. We can give you peace of mind that if the unforeseen happens, such as an injury or damage to property, you won’t be out of pocket. Our flexible, affordable policies start from just a few pounds a month, meaning you can safeguard your future without breaking the bank.

To find out more on our policies and how we can protect your business, get in touch with our team today.

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12:04:02 GMT • 14 November 2024

8 Pricing Strategies for Event Planners

24 May 2023

•

6 mins read

Contributors

My main focus is managing the blog and product content for the Protectivity website ensuring everything aligns wi...

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If you’re an event planner organising a ticketed occasion, then getting your name out there and converting interest into sales is one of your most important pre-event tasks. Of course, convincing people to part with their hard-earned cash ahead of time can be tricky – but it’s also important to remember that people generally love a bargain or a special deal.

That’s why it’s so important to diversify the way you sell tickets to an event so that you can appeal to different customers with a range of offers that are more likely to pique their interest. In this guide, we’ll explore eight tried-and-tested pricing strategies for event planners, giving you a full variety of options to apply to your future event projects.

About Us

Protectivity provides event cancellation cover for events big and small, indoor and outdoor. Our policies offer public liability, employers’ liability, Event cancellation cover and equipment protection. That way, you can rest assured that you won’t be out of pocket in a worst-case scenario, and can devote your efforts to maximising your ticket sales.

Early bird and time-limited discounts

If you want to build up some initial momentum to your event, or you need to get some cashflow coming in to cover the first bills, then some early-bird offers are the way to go. Giving customers the opportunity to get a ticket at a lower rate, if they buy weeks or months in advance, gives you a solid base from which to work from.

If it’s especially successful, then you can adjust your future strategy to take into account however many tickets you have left. However, you should resist the urge to extend an early-bird offer, as it can come across as desperation or a sign of poor sales thus far.

One-off discounts

In many circles, these are known as ‘flash sales’, and they can be incredibly effective if planned and executed right. Ideally, you want to post on relevant social channels that you’re offering a substantial discount on tickets for a very short period of time (that particular day is normally about right).

Voucher codes

If restaurants and entertainment venues can offer discount codes through websites such as Groupon, then why can’t you follow the same principle? Using voucher codes gives you complete freedom in the level and duration of discount you want to provide, as well as how they’re distributed, making them ideal for targeted or personalised marketing campaigns. And if you’re running a conference or exhibition where some businesses will want to run stands, the same approach can be applied to help generate sales in this area.

Memberships and subscriptions

If you’re running regular events, then selling tickets for a series of them at a more affordable rate is a good way to keep ongoing sales coming through (hence why football teams sell season tickets). But you can also look at the concept of membership in a different way: if organising a trade event, for example, you could put special ticket packages in place for members of affiliated trade bodies or companies. You can enable this by putting different registration options in place for members and non-members, incorporating the different price points.

Group ticketing discounts

Encouraging people to buy tickets for larger groups and get discounts as a result can generate large sales volumes ahead of time. Think of a black-tie awards dinner, for example: a full table of ten people might be priced at the same level of six or seven individual tickets, making them more receptive to bringing more people along. Alternatively, framing the offer messaging in such a way that the ‘buyer gets in free’ can help the person making the purchasing decision feel like they’re getting personally rewarded.

Packages and bundles

If an event is likely to involve multiple purchases by a ticket-buyer, then bundling things together can help them save money, take the stress out of buying things on the day, and improve your advance cashflow. This could include food, drink or merchandise being included with ticket sales; access to car parking, transport or accommodation; or the ability to access the event early or through a priority entrance lane.

VIP offers

If you have particularly loyal and long-standing customers, or some who have invested heavily into your business or event in previous years, then packages that recognise their efforts can encourage them to maintain their commitment in the long-term. The offers in this area don’t necessarily need to be discounts: instead, you can give them levels of exclusivity above and beyond those provided to other ticket-buyers. These can include premium seating, better food and drink packages, the chance to network with other people involved, and more.

Activation discounts

Inspiring action from a participant, in exchange for cheaper tickets, is a great way to get your customers engaged with your event. For example, if you’re running a festival-type event, you might want to offer discounted entry for anyone who comes in fancy dress. It’s the same principle as women being able to get into a nightclub free of charge on a ‘Ladies’ Night’ in years gone by. However, you should be careful to make sure that whatever you offer doesn’t discriminate in favour of, or against, a particular group of people (i.e. by race, gender, disability and so on).

Get event insurance with Protectivity

However many tickets you’re able to sell for your event, the unforeseen can still happen. This is especially the case with outdoor events, which are often at the mercy of the Great British weather. Of course, if your event is disrupted, you’ll still have expenses to cover, which can become extremely costly if you have to refund ticket-holders. And that’s why event insurance is so vitally important.

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12:10:44 GMT • 14 November 2024

What is product liability insurance?

22 May 2023

•

5 mins read

Contributors

My main focus is managing the blog and product content for the Protectivity website ensuring everything aligns wi...

If you’re running a business that sells goods to the public, then you’ll already know all about your legal responsibilities around product safety. But did you know that customers can make civil claims for compensation against you in the event of illness, injury or property damage? And that you could be responsible for those claims even if you’re not the manufacturer of the product in question?

These facts – and the potentially life-changing ramifications of a successful claim against you from a financial perspective – emphasise the importance of having product liability insurance in place. This guide covers all the key basics you need to know about product liability insurance: how it works, how to assess whether you need it or not, and the levels of cover you may want to consider taking out.

What does product liability insurance cover?

Product liability insurance covers the cost of any claims that arise from illness, injury or damage to property caused by a product that you sell and/or make.

While you’ll no doubt be making every effort to make sure that products are safe for customers, risk can never be brought down to zero. Accidents or incidents can always happen, whether it’s injury caused by a manufacturing defect, or an allergic reaction that a customer has to a particular item of food or to some make-up they’ve bought.

If the customer can demonstrate that they have suffered financial loss as a result – such as time off work, medical care, or replacing damaged goods – then they can make a claim against you for compensation. If you have product liability insurance in place, then you and your business are insulated from this expense, which can easily run into the thousands of pounds.

Do I need product liability insurance?

If you sell any goods to the public, then taking out product liability insurance is strongly recommended. It’s also important to make the point that whether you make the products you sell, or procure them from a manufacturer to sell on, is irrelevant. As the vendor, you will be responsible for any illness, injury or property damage that your products cause and that result in demonstrable financial loss, either for a customer or for a third-party member of the public.

If you are running a small business, or you’re self-employed, then it is highly unlikely that you would be able to absorb the cost of a compensation claim and associated legal fees yourself. These expenses could threaten the viability of your business, and could even lead to you losing your home if operating as a sole trader or a partnership. Product liability removes this risk by covering those costs instead, meaning you only have to pay whatever level of excess is agreed in the policy.

Is product liability insurance a legal requirement?

While you are legally required to ensure that the products you sell are safe for customers, product liability insurance is not required by law. However, you may find that it is a necessary requirement of doing business, because it is often mandated by manufacturers, retailers and other organisations as a condition of working with them.

In any case, it is good practice to have insurance cover in place for your products, given the potential size of any compensation claims and the relatively low cost of taking out a policy.

How much does product liability insurance cost?

The range of potential premiums for a product liability insurance policy is vast, because of the huge variation in the types of products that are sold. For example, a self-employed baker that is selling cakes at fetes and festivals will pay much less than a large business making and selling heavy-duty industrial machinery. The price you sell items at, and the nature of your supply chain, will also have a bearing on your quote.

With specific reference to the sports, leisure and beauty industries, it’s likely that you’ll be running a small operation with a relatively limited but highly specialised range of products. This should help keep your premiums to a low level – and the ability to pay monthly should ensure that the cover doesn’t have too much of an impact on your cashflow.

Get product liability insurance with Protectivity

Whatever products you sell, and whatever the size of your business, product liability insurance is important. In the sports, leisure and beauty industries, it’s especially vital as many products are designed to be used on a person’s body, potentially heightening the risk of illness or injury if there is a problem.

That’s why many of our insurance policies at Protectivity incorporate comprehensive product liability insurance cover. That way, you can sell your goods in the confidence that you won’t lose out financially in the event that something goes wrong. Available through flexible payment plans for just a few pounds a month, it represents a simple, worthwhile investment as you grow your business.

Find out more on our product liability insurance options.

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12:25:43 GMT • 14 November 2024

What is Employers’ Liability Insurance?

22 May 2023

•

6 mins read

Contributors

My main focus is managing the blog and product content for the Protectivity website ensuring everything aligns wi...

If you employ any members of staff – or you’re starting a business where you will be – then employers’ liability insurance is one of the most important things you need to secure. Not only is it required by law, but it gives you vital protection if somebody who works for you gets hurt or ill while on the job. It’s one of a number of insurance protections that, in the event of a big claim being made against you, can make the difference between whether your business survives afterwards or not.

This guide tells you all the key facts you need to know about employers’ liability insurance, including what’s covered, whether or not you might be exempt, and how much you can expect to pay.

Is employers’ liability insurance a legal requirement?

Yes. If you employ at least one person other than yourself, then you must have a valid employers’ liability policy in place, as stated by the Employers’ Liability Act 1969. This also includes any self-employed contractors that you use the services of, any temporary staff, as well as apprentices, volunteers, trainees and those on work experience.

The penalty for non-compliance is extremely severe: for each day that you aren’t covered, you will be fined £2500 per employee.

Beyond this, you may also find that proof of cover will also be inspected by many partner businesses, organisations and clients you want to work with – similar to the requirement to have public liability insurance.

What does employers’ liability insurance cover?

Employers’ liability insurance covers the cost of any compensation claims by employees, as a result of them getting injured or ill as a result of their work. If they suffer any financial loss as a result of their working activities – including if they are working from home – then they have the right to be compensated by you as their employer. If you have employer’s liability insurance in place, then your insurer will take care of all the bills generated (minus any excess you are required to pay, as set out in your policy).

This type of insurance can also cover injuries caused by employees to third parties like customers. For example, if an employee drops a heavy item onto a customer and causes an injury, then your business could be subject to a claim. This doesn’t even necessarily have to be a customer: it also applies to any member of the public, such as a pedestrian who trips over a sandwich board outside the front door of your premises.

Why do you need employers’ liability insurance?

Apart from the fact that it’s required by law, employers’ liability insurance is important because of the sheer scale of how much a compensation claim can cost you.

If an employee is forced out of work because of illness or injury that you’re responsible for – especially if the layoff is lengthy or even permanent – then the bill can run into many thousands of pounds. This is not only due to lost income from time off work, but also any medical bills incurred by the injured party, as well as the legal expenses of defending the claim.

Many larger businesses with high-value turnovers are often able to absorb this cost without resorting to employers’ liability insurance. But smaller operations will find it much more difficult to do so, and the ongoing viability of the business can be thrown into doubt by just one large claim. For sole traders and partnerships that don’t have the protection of limited liability, it could even put homes at risk because of the debt involved.

How much does employers’ liability insurance cost?

Naturally, there is some variation on how much a policy will cost, depending on the number of employees you have. If you’re a small operation with only one or two employees, you will face a much smaller bill than a bigger company with a much larger workforce. The amount of time that your business has been operating, the nature of your business, and the level of risk that your employees are exposed to will also influence your quotes, too.

The cheapest premiums can come in at less than £50 a year (around £4 a month if paying through a flexible payment plan), but this can run into the hundreds for riskier types of work where the chance of a claim is higher.

Who is exempt from needing employers’ liability insurance?

Obviously, if you are self-employed and work entirely on your own, then you don’t need employers’ liability insurance – you don’t have any employees to protect, and your own protection would come from personal accident insurance instead. This also applies if your business is a partnership, and there are no employees other than you and your partner(s).

If your company only employs people who are directly related to you, then you are also exempt from the legal requirement to have employers’ liability insurance. However, we recommend taking a policy out anyway, as you will still be vulnerable for a compensation claim, just as you would be from anyone else that you employ.

Get employers’ liability insurance with Protectivity

Whether you’re running a large enterprise like a gym with dozens of staff, or a small nail salon with just one other employee, taking out employer’s liability insurance is essential. But whatever your business, Protectivity has the right cover for you.

We have years of experience in providing comprehensive policies for sports, leisure and beauty businesses, encompassing employer’s liability cover. Combined with other types of insurance, including public liability, personal accident, equipment cover, professional indemnity and more, you can grow your business in the confidence that you won’t end up out of pocket if the unforeseen happens.

Our flexible payment plans and affordable rates mean many of our policies cost just a few pounds a month. Find the right policy option for your enterprise by exploring our full range.

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12:29:44 GMT • 14 November 2024

What to put on a personal trainer business card

16 May 2023

•

6 mins read

Contributors

My main focus is managing the blog and product content for the Protectivity website ensuring everything aligns wi...

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You might think that business cards are a bit old-fashioned these days. But even in a world where the Internet and social media dominate the marketing and communication landscape, the business card still has value in reaching prospective customers and getting your enterprise noticed.

Whether you’re just starting a personal training business, or you have an existing business you want to grow, an informative and concise business card can therefore make a real difference. However, it’s very easy to get it wrong, and end up with cards that are messy, unattractive, or are simply trying to do too much.

In this guide, we’ll highlight what to put on a personal trainer business card, what not to put, and what else to consider.

What information should you include?

Obviously, your first port of call in what to put on a personal trainer business card should be determining the key contact details to include. These should comprise your name (and/or your company name if you have one), your job title, and contact details across a variety of communications methods.

You can include any of your phone number, email address, website, postal address (if you operate from a specific venue), and the addresses for your social media channels. Some of these will be more important than others, depending on which platforms you use for your marketing and communication, so it’s best to prioritise a few of them rather than including absolutely everything.

Ultimately, your card should tell people who you are, what you do and how to get in touch with you from the very first glance. Ask friends, relatives or colleagues for a second opinion if you’re not sure that your proposed design achieves this.

What should you leave out?

It’s important to remember that less can often be more with a business card. You’ve only got the size of a credit card to get your points across, and if you try to overload the card, it will end up looking cluttered and unfocused. Make sure that there is nothing on the card that doesn’t absolutely need to be there.

A good example of where something might or might not be required is information around your credentials, i.e. letters and abbreviations after your name that mean you have a degree or other personal training qualification. Depending on the nature of your business, it may be very important to point out specific qualifications or skills that you have, because they will appeal to your target audience.

But if that isn’t the case, putting all those letters onto your business card is unnecessary, and wastes valuable space. The business card is to encourage people to make first contact – let your website and social channels tell the full story of you and your business.

What should your call-to-action be?

One thing that often gets overlooked in personal trainer business card development is the call-to-action: what it is you want the reader to do when they’ve picked up your card.

Most commonly, this will be to get in touch with you via your selected channels of communication, but it could be something else. For example, you might want to promote a discounted membership, a free trial session for new customers, or direct people to health and fitness content on your website.

Whatever you choose, your call-to-action should be prominent on your business card, leaving the reader in no doubt as to what they should do if they’re interested. For specific offers or digital content, a QR code can make it as fast and easy as possible for readers to take the next step.

What should your design look like?

As well as content, you also need to consider the overall look and design of your business card. This doesn’t have to be difficult or time-consuming, as most business card providers have online design tools, on which you can carefully construct your card’s design and then place your order immediately.

Things to consider in this area include:

Logo and colour scheme: if you have a logo for your company, and/or an overall look and feel across website, social media, clothing and equipment, make sure they are included

Slogan: a motivational line or a short description of your services can help you get your message across – the reverse side of your card can be ideal for this

Font: play around with different fonts to find something that complements your colour choice and stands out, but without being too difficult to read.

How much should you spend on personal trainer business cards?

The good news is that business cards can be very affordable, to the point that some companies are willing to print you a limited run of basic business cards for free. While this will help you on a small-scale, these free cards may not give you the design or material options you want.

The price of your business cards will vary, depending on how many you order, how quickly you need them delivered, and the quality of the printing and card material you choose. Standard options are generally available from less than £10 per 100 cards, rising up to more than £20 for more premium alternatives. You’ll also find that buying in larger quantities will normally bring these prices down by a reasonable amount.

Get personal trainer insurance with Protectivity

A good, memorable personal trainer business card is one of the most important jobs to tackle when you’re starting out with your business enterprise. Another is making sure you’re protected against unforeseen circumstances with comprehensive insurance cover.

At Protectivity, we have decades of experience covering personal training businesses big and small, and whether a new company or established enterprise. With our affordable and customisable policies, you can make sure you don’t end up out of pocket, thanks to Public Liability cover, Professional Indemnity, and £250 of free equipment cover. What’s more, our flexible payment plans mean you can get peace of mind without breaking your budget. Take a closer look at our insurance for personal trainers.

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Dog grooming style guide: the top 10 cuts and trims

5 May 2023

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6 mins read

Contributors

My main focus is managing the blog and product content for the Protectivity website ensuring everything aligns wi...

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There are many practical reasons for grooming dogs: it ensures that they keep clean and healthy, and don’t get too hot in the warmer months, to name but two. But for many owners, it’s just as important to have a dog that’s stylish, which is why fashionable haircuts are as popular among dogs as they are among people.

If you’re currently learning about how to become a dog groomer, understanding the most common or popular haircuts that owners like is absolutely essential, especially if you’re trying to build your own profitable business. To help, we’ve developed this dog grooming style guide, which details ten of the most sought-after cuts that owners love.

Kennel cut

One of the most versatile cuts around, kennel cuts are suitable for just about any breed of dog you can think of. This is a very short, all-over cut that maximises the amount of time between cuts, making it especially popular with owners who want to keep the time and cost of maintaining their dog to the minimum. A good kennel cut length will vary from breed to breed, so it’s always wise to ask the owner if they have any preferences.

Lamb cut

Dogs are sensitive to temperature, and some cuts that might help them keep cool in summer won’t help them keep warm in winter. A lamb cut gives them the best of both worlds: short hair around the torso while keeping it longer around the legs. This means they’re able to shed summer fur to cool down, and while the length of the leg hair maintains some warmth in the winter, putting on a doggy coat can help them keep their core temperature up.

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.

Lion cut

This is quite a specialised cut that only really suits certain types of dog – Pomeranians and Poodles are particularly well-suited to it. In order to give a dog a lion-type look, most of the hair around the body is trimmed to a very short length (and sometimes even shaved), while the face, the legs and the end of the tail are left with long hair.

Neaten

This is probably the canine equivalent of a man going into the barbers and asking for a trim – or putting a car in for an annual service! It involves giving a dog a good bath, and then clipping specific areas, namely the face, around the paws, skirts (for longer dogs), and around the genitals. This often will come alongside nail-clipping, a comprehensive brushing of fur, and cleaning out the dog’s ears.

Poodle cut

While this cut is most naturally suited to Poodles, it’s also appropriate for a number of other breeds that also have curly hair. Body hair is kept short, while more length is left around the head and the neck. This cut is better for owners who want to keep their dog looking in tip-top condition with untangled hair, and are therefore willing to invest in getting the hair cut regularly.

Puppy cut

Although the name might suggest that this cut is only for puppies, it can be applied to dogs of any age. It’s one of the most straightforward trims on this list, cutting hair to a length of between one and two inches across the body, although there is room for flexibility. It’s especially popular with dogs with longer hair as it’s a great way to prevent matting.

Shaved

An all-over shave is very rarely a good idea for any type of dog. However, applying a shaver in localised areas can be useful in removing heavily matted fur, especially if all other means of getting rid of it have failed. There are a few breeds like Golden Retrievers where some shaving is helpful, as short fur is especially beneficial to them in hot weather, but don’t take it too far.

Summer cut

Trimming a coat so that a dog can cope with hotter temperatures is critically important, so you’ll be likely to get more business from owners for these from spring onwards. However, what this represents depends on the nature of the dog: some with thicker fur will need more trimming than others in order to stay cool.

Teddy bear cut

Teddy bear cuts are similar to the puppy cuts mentioned above, as hair is cut to a short, even length across the body. The difference here is that this cut is designed for dogs with curly hair, and as there are so many varieties of curly-haired dogs, there can be more discretion around the length of the cut. How often this should be done depends on the owner, but for those who want to keep their dogs especially tidy-looking, once a month is normally about right.

Top knot

Top knots might be fashionable among some men at the moment, but there’s a much more practical reason to use them for a dog. If you have a breed with longer hair – think Shih-Tzus and Yorkshire Terriers, for example – then a top knot helps keep the hair out of their eyes. Not only does this obviously help them see better, but it also ensures that the hair doesn’t get unnecessarily wet or dirty when the dog is out and about, or eating and drinking.

Get dog grooming insurance with Protectivity

Whichever haircuts you apply to a dog, it’s natural that mistakes can and will happen. Unfortunately, when owners are paying for a quality haircut, this can lead to some financial consequences that can seriously affect your business. That’s why taking out dog grooming insurance is so important.

Protectivity provides comprehensive, affordable dog grooming cover for professionals just like you, whether you’re just starting out or have years of experience. Our policies encompass Public Liability that covers injuries or property damage; Care, Custody and Control cover of up to £100,000 in case a dog gets ill or injured, and up to £30,000 of specialist cover for your equipment.

With our insurance, available through flexible payment plans, you can groom dogs with confidence that an accidental error won’t hit you in the pocket. Find out more on our dog grooming policy here.

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How long does it take to get business insurance?

4 May 2023

•

6 mins read

Contributors

My main focus is managing the blog and product content for the Protectivity website ensuring everything aligns wi...

Get small business insurance from Protectivity

Gone are the days of meeting an insurance agent in person whenever you want to purchase a policy. Today, you can arrange your business insurance yourself either online or over the phone in less than an hour.

So how long does it take to get business insurance? The answer depends on the product and the type of business you run. With most insurers, you should be able to get a quote in as little as five minutes. Once you’ve decided to go ahead with your policy, you’ll need to give the insurer more information about yourself and your business, to ensure your policy covers you for what you need it to. That way, you’ll have the reassurance that your policy will cover you and your employees should the unexpected happen.

Here, we’ll explore the factors that affect how quickly you can get your business insured, the wait times for different types of coverage and how to speed up the process.

Factors that affect wait times for business insurance coverage

When it comes to your business, you’ll want to make sure it’s protected should the unexpected happen and you need some support. That’s why it’s important you get your business insurance as quickly as possible, to protect your livelihood and your employees.

There are several factors that can affect how long it takes to get your business insured, including:

Type of insurance coverage: The type of business insurance you require may take longer to be approved than others due to its specific nature. Here at Protectivity, we offer tailor-made insurance for different types of businesses, from hairdressing insurance to dog walking insurance. Certain types of insurance can take longer to get set up, such as Sports Business Insurance, whereby we need to complete a form and send it to our underwriters to approve first.
Size and complexity of the business: The larger or more complex your business, the more information you’ll need to provide, which can make the application process that bit longer.
Level of risk: When getting your quote, insurers will look at your annual turnover, as well as the number of employees you have, to determine your level of risk. The more you potentially have to lose, the longer it can take to arrange.
Availability of insurance providers: You may prefer a tailor-made approach to your insurance policy that suits the type of business you have. While these specialist niche insurance products can cover the ins and outs of your business, they may take longer to apply for. They can also be harder to find due to their limited availability. Here at Protectivity, we specialise in the niche insurance market, offering insurance for specific types of businesses to ensure you get personalised cover, tailored to your individual needs.

How to expedite the business insurance coverage process

If you’re looking to speed up the insurance application process, it’s a good idea to be prepared. Be sure to have your business’ details to hand to make the application as straightforward as possible. Insurers will usually need to know the nature of your business, the number of employees you have and your annual turnover.

It also helps to be clued up on what different insurance terms mean, and the different types of business insurance available beforehand. In the UK, it’s compulsory for all businesses to have employers’ liability insurance. You may also choose to take out public liability insurance to cover you for claims made against you by members of the public. While it’s not a legal requirement, it can help you to cover the legal fees and compensation costs if you or a member of your team accidentally causes injury to a member of the public, or damages their property. With this in mind, it’s important you know exactly what business insurance your company needs, to make the application process as straightforward as possible.

When getting business insurance, you’ll also want to feel confident that you’ve chosen a reputable and trusted provider. Be sure to investigate the insurer’s reputation and read reviews to get an idea of how likely they are to pay out in the event of a claim. Also, make sure you understand exactly what the insurer will cover you for and your policy limits. This can give you the reassurance that you can rely on your provider to pick up the pieces if disaster were to strike and you needed some support.

How soon can you get business insurance coverage?

Taking out business insurance shouldn’t be a long or complicated process. In fact, you should be able to have your insurance ready to go in no time, provided you have all the necessary documents to hand. Most insurance providers give you the option to get a quote online which should take around five minutes. The sooner you get your insurance, the sooner you’ll be protected should something go wrong. It’s also worth noting that having employers’ liability insurance in place is a legal requirement, and the Health and Safety Executive (HSE) can fine you £2,500 for every day you’re unprotected. So it’s worth getting your insurance sorted as soon as possible.

Here at Protectivity, you can get an instant quote for most of our insurance policies. How long this process will take depends on the type of business insurance you require. For those purchasing Gym Insurance, you’ll need to fill out a form which helps us get to know you and your business a bit better, which can take between 30 and 45 minutes. If you need Sports Business Insurance, the process can take a bit longer as we’ll need to complete a form for you and send it to our underwriters. Once approved, they’ll return it back to us within 48 hours.

Get insured fast

Here at Protectivity, we pride ourselves on our quick and efficient service, so you can protect your business with ease. Request a quote for small business insurance with Protectivity and get the peace of mind you deserve.

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Benefits of Employers’ Liability Insurance

2 May 2023

•

5 mins read

Contributors

My main focus is managing the blog and product content for the Protectivity website ensuring everything aligns wi...

Employers’ liability insurance is one of the most important types of business insurance. Should an employee suffer an injury or illness while working for you, and then claim compensation from you, employers’ liability insurance can help you to cover the cost.

Employers’ liability insurance isn’t just nice to have – it’s a legal requirement. Without it, you could face a fine of up to £2,500 for every day your business isn’t properly insured.

Here, we’ll explore the benefits of employers’ liability insurance, and how it can protect both your business and your employees.

1. Protects your business from unexpected legal and financial risks

Regardless of how much attention you pay to health and safety at work, injuries can still happen. And if your employee or ex-employee chooses to sue you due to an injury or illness caused by their work, you’d need to pay compensation. These compensation payments can be significantly expensive, and even if you won the court case you’d still need to fork out expensive legal fees. With employers’ liability insurance, your insurer covers the cost, which can protect your business from financial strain.

2. Covers the cost of employee injury or illness

Employers’ liability insurance will pay compensation if an employee or ex-employee is injured or becomes unwell because of the work they do for you. For example, if a factory worker tripped over some equipment that hadn’t been properly stored while at work, this may cause them a serious injury. They may then choose to sue their employer for this, and the court can order the employer to pay compensation to cover the cost of the injury, and any other damages. Without employers’ liability insurance, your business would have to find a way to cover the cost of compensation, to contribute to the cost of medical care and lost income, which could be detrimental to your business’ financial well-being.

3. Demonstrates compliance with legal requirements

Having employers’ liability insurance is compulsory for most businesses, because you’re responsible for the health and safety of your employees while they’re at work. The Employers’ Liability (Compulsory Insurance) Act 1969 requires every employer, unless exempt, to insure against liability for bodily injury or disease sustained by their employees while in their employment. You are required to have at least £5 million of cover from an authorised insurer. Without it, you can be fined up to £2,500 for every day you’re not properly insured.

4. Provides peace of mind for you and your employees

Insurance serves as a safety net against the unexpected. As an employer, you may try your hardest to avoid health and safety risks, but this won’t eliminate them completely. Employers’ liability insurance can give you the peace of mind that should an employee become injured or unwell due to an incident or accident at work, you’ll have financial support there should you need it.

5. Protects your reputation

The last thing you want to happen is your employee or ex-employee claiming compensation and your business not being able to afford it – which could be detrimental to your brand’s reputation. Instead, with employers’ liability insurance you’ll have the reassurance that should something go wrong, you have insurance to fall back on. That way, you’ll be able to cover any legal and compensation costs that may arise, to ensure your public image remains positive.

6. Helps your business to grow

As mentioned, employers’ liability insurance is a legal requirement. If your business is just starting out, making sure you have the right insurance will be another thing ticked off your list, so you can focus on taking care of day-to-day responsibilities.

7. Tailored coverage to suit your business needs

When getting your employers’ liability insurance, you’ll usually be asked a series of questions about you and your business, to ensure your policy covers everything you need it to. The application process should be straightforward – simply let your insurer know how many people you employ and what work they do for you, and you’ll get an insurance policy that covers all your needs. That way, should disaster strike, your business and employees will be taken care of.

Ready to protect your business?

As a business owner, your business isn’t just your source of income, it’s also the product of all your hard work – so you’ll want to know it’s well protected should the unexpected happen and you need some support. Get a quote today for your small business with Protectivity, whether that be personal trainer insurance, liability insurance for an event, a small dog grooming business.

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