Category: Starting a business

Employers Liability Insurance vs Personal Accident Insurance

29 April 2023

•

6 mins read

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As a business owner, having insurance in place can give you the peace of mind that should the unexpected happen, you’ll have the support there to put wrong to right. When searching for business insurance, you may have come across the terms employers’ liability insurance and personal accident insurance. But what do these terms mean, and what is the difference between them?

Here, we’ll compare employers liability insurance vs personal accident insurance, so you can determine which type of insurance is right for your business.

What does employers’ liability insurance cover?

As soon as you become an employer, you’ll need to get employers liability insurance. In fact, it’s a legal requirement for most businesses in the UK to have (unless you operate alone or only employ family members, for example). If you don’t, you can be fined £2,500 every day you aren’t properly insured. Your policy must come from an authorised insurer and cover you for at least £5 million.

But what does employers’ liability insurance cover you for? It’s there to protect you if your employee claims compensation for an illness or injury they claim was caused by their work. Let’s say a worker was badly injured by tripping over a box left on the floor in the warehouse. Or an employee was electrocuted by faulty electrical equipment in the office. They could claim compensation against you for this happening, and the court could then order you to pay compensation for the injury, costs or other damages – which as you can expect, can be very expensive. That’s where employers’ liability insurance comes in – to cover the compensation payment and any legal costs if an employee claims compensation for a work-related injury or illness.

Like all types of insurance, employers’ liability insurance is there to protect you against the unexpected. No matter how careful you are at work, injuries do happen. If you don’t have employers’ liability insurance, it could significantly impact your business’ finances if you face a compensation claim.

What does personal accident insurance cover?

As the name suggests, personal accident insurance covers you if you suffer a serious injury or death following an accident. It’s there to protect you and your family against loss of income should you be unable to work, to help cover the cost of bills and other living expenses. It’s a type of personal insurance, similar to life insurance and income protection cover. With this in mind, personal accident insurance may be a type of cover you or your employee chooses to take out, to protect you/them financially against the unexpected.

Often, personal accident cover is included in life insurance and car insurance policies – so it may be worth you checking if you’re already covered before you take out another separate policy.

Most personal accident insurance policies will cover you for:

An accident or injury that happens at work
An injury caused by someone being violent towards you
Road traffic accidents
Permanent disability caused by an accident
The loss of your body parts or the loss of the ability to use them fully
Injuries caused by falls, slips and spillages

Pros and cons of employers’ liability insurance

When exploring your insurance options as a business owner, it’s important you know exactly what you’re covered for. Here, we’ll dive into the potential pros and cons of employers’ liability insurance:

Pros

Provides legal and financial protection should your employee or ex-employee claim compensation against you for an injury that happened at work
Helps cover the costs of employee injuries or illnesses
Without it, you could face a daily fine – so it’s a good idea to take out the insurance as soon as possible

Cons

Premiums can be expensive – especially for those working in hazardous environments that are higher-risk
Like many types of insurance, the claims process can be complex and time-consuming
For independent contractors or those who are self-employed, coverage can be limited

While there are potential cons to Employers Liability Insurance, it is a legal requirement to have so it’s important you have it in place.

Pros and cons of personal accident insurance

Personal accident insurance can offer you the peace of mind that should you suffer an injury or accident, you’ll be supported. Here are some potential advantages and disadvantages of personal accident insurance for you to consider:

Pros

Provides financial protection should you suffer an accidental injury, disability or death
Can offer you peace of mind if you work in a high-risk job
If you’re no longer able to work due to injury, personal accident insurance can provide a lump-sum payment or ongoing income to support you and your dependents

Cons

You won’t be covered for chronic conditions, illnesses, viruses or diseases as these aren’t caused by an accident
You won’t be covered for conditions that develop over time and aren’t caused by a single accident, such as gradual hearing loss
Premiums can be expensive, particularly if you work in a high-risk environment or participate in high-risk activities

Which insurance is right for your business?

Which type of insurance is right for your business will depend on the level of risk for you and your employees, and legal requirements too.

As a business owner, you’ll need to ensure you have employers’ liability insurance in place as soon as you become an employer. It’s a legal requirement for most businesses in the UK who have employees, to protect you against the cost of compensation claims should an employee have an injury or work-related illness. Without it, you could face a fine of £2,500 for every day you aren’t insured. Certain businesses are exempt from needing employers’ liability insurance, such as those with no employees or family businesses who only employ family members.

As for personal accident insurance, it’s down to your employee if they choose to take out a policy. It’s designed to give your employees peace of mind – so should they suffer an accidental injury, disability or death – they’ll be financially protected. This also means if they were to die due to an accident, their family will be given a payout if they make a claim.

So, which type of insurance is right for your business depends on the nature of your business. Employers’ liability insurance is a legal requirement for most UK businesses. Whereas, personal accident insurance is there to protect your employees should the unexpected happen – particularly if they work in high-risk conditions.

Speak to a professional

As a business owner, having the right insurance can give you reassurance that should something go wrong, you and your employees will be taken care of. Get a quote for small business insurance with Protectivity today, for the peace of mind you deserve.

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How to get into Event Management?

28 April 2023

•

6 mins read

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Event management is a popular career choice for people from many walks of life, and it’s easy to see why. The satisfaction of pulling off a complex event and bringing many different elements together for success can be immense, and the best event managers around are highly sought after with high earning potential.

However, if you’re new to the events industry, then it can be difficult to know exactly where to start and how to turn aspiration into reality. To help, we’ve created this guide that covers all the basics of how to get into event management, so that you can stay on the right track as you work towards your goal.

The key steps on how to get into events management

The following six steps are intended as a general guide on how to get into events management as a whole. If you’re looking at specialising in a particular type of event or industry, then there may well be other considerations to take into account. But for most areas of event management, these tips will give you a solid foundation to start from.

Get qualifications and credentials

One of the most common questions people ask when exploring a career in event management is ‘do I need a degree?’. The simplest answer to this question is ‘not necessarily, but it definitely helps’. Businesses looking at hiring event managers will certainly be looking for evidence of degree-level qualifications when assessing CVs. So, studying for a BA in Event Management, International Event Management or Hotel And Event Management will put you in good stead. If you’re unable to commit the time and money needed to get a degree, then there are diploma qualifications and programmes that can give you good-quality certification, instead.

Volunteer for experience

Alongside qualifications, hiring businesses will also be looking for relevant experience of managing events. Of course, that can be a chicken-and-egg situation: how can you get experience of working in event management without getting a job in the first place? The best solution to this is to volunteer at events or to apply for event assistant jobs. They can not only give you real-world experience that can help you expand your skills and knowledge, but it also gives you extra selling points that you can put on your CV. What’s more, showing motivation to volunteer and be proactive will look good to prospective employers.

Develop your contact network

As is the case in most walks of life, having a large, healthy book of contacts is critical. This is especially the case in event management, where work often comes through word of mouth and recommendations. There are three ways to build up your network, and the first is to build a strong presence on LinkedIn: following businesses and people you’d like to work with in the future, and posting on the platform regularly, can help you get noticed in the future.

The second way is to attend trade shows and other relevant networking events, so that you can meet people face-to-face, talk about your and their experiences and become a recognised face in the industry. And finally, you should try and join a recognised event planning association or professional body, many of which run their own networking get-togethers.

Explore your career options

If you’re looking for event management jobs, then it’s important to keep an open mind. You may not be able to find or secure your ideal vacancy at the first attempt, so building up experience with a job in a different area or specialism can at least give you a first foothold in the industry. Make sure you conduct extensive research as to the kinds of jobs and salary offerings that are out there: this can help you craft your CV to suit each vacancy and set realistic earning expectations.

Start your own business

Alternatively, if you want to branch out on your own, you could consider setting up your own event management business. This could be a full-scale operation that provides turnkey packages to businesses and organisations, where you employ a number of other people to help you. Or you could set yourself up as a freelance event manager that is hired by other businesses on an event-by-event basis. In either case, you’ll need to start by working out your target market, and setting up your website and social media channels on that basis.

Build up some confidence

Event management is a people business. You’ll need to deal with all sorts of people while running an event, and you’ll need to talk to people in order to build up your contact network and secure the work you’re looking for. All this takes a healthy amount of self-confidence, and that comes far more easily to some people than it does to others. If you feel that your self-confidence needs some work, then make the effort to take yourself out of your comfort zone. This could be by practising talking to clients over the phone, gaining experience in public speaking, and doing research into your industry so that you feel that you know what you’re talking about.

Get event insurance with Protectivity

One thing you’ll learn as you immerse yourself in the event management world is that you need to be prepared for anything. And when the unforeseen or the worst-case scenario occurs, you need to make sure you have the right response and protection in place, including comprehensive insurance for cancelled events.

For every type of event that you might be involved in running, Protectivity can give you the comprehensive, affordable insurance cover you need. Our policies include Public Liability insurance, cancellation cover, protection for equipment, and Employer’s Liability. So, if someone gets hurt, property gets damaged, or the event has to be cancelled for reasons beyond your control, your business won’t be left out of pocket.

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Mediumship Training

17 March 2023

•

5 mins read

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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

16 March 2023

•

6 mins read

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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

How Long Do You Need to Keep Business Insurance Policies?

8 March 2023

•

3 mins read

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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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5 Common Risks When Starting a Business

3 March 2023

•

8 mins read

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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.

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Employers’ Liability Insurance vs Public Liability Insurance

2 March 2023

•

6 mins read

Contributors

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

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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5 of the Best Pet Business Ideas to Start from Home

24 February 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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Working from home, working for yourself and working with pets are all dreams for many of us. But, what if we told you that you could easily combine all three of these dreams?

By starting an at-home pet business, you can achieve all your life-long goals. But which pet business ideas are viable at the moment and which can you actually start from home? Here, we explain everything you need to know.

5 of the best pet business ideas

Selecting the right business idea can be difficult; particularly if you’ve never started a business before. To help you, here we’ve detailed five of the best pet business ideas you can start from home.

1) Dog walking

Dog walking is the perfect at-home pet business. You don’t need set qualifications to take on this new role and there are very few associated overheads.

Now life has returned to normal after the pandemic, many people need help walking their four-legged friend on days when they’re in the office. This is exactly where you come in.

As a professional dog walker, you’ll be responsible for arranging the best days and times to walk your clients’ dogs, organising walks where the dogs can get enough exercise, and ensuring all the dogs get enough socialisation. You can work from home and set a schedule that suits you.

2) Pet sitting

Pet sitting is another pet business idea that you can start from home. One of the great things about pet sitting is that the services you offer can be as narrow or as flexible as you like. For example, you could only board dogs at your own home on weekends, or you could relocate to a client’s home for a week so the pet can stay in their own surroundings.

Pet sitting is often viewed as a side hustle and many pet sitters only operate on weekends for this reason. But, as a general rule, the more options you can offer pet owners, the more bookings you’ll receive.

3) Pet photography

If you love taking photos and standing behind the camera, then why not start your own pet portrait business? Pets are important family members, and today many people use professional pet portraits for home decorations and for Christmas cards.

On top of this, many businesses also seek out professional pet photographers when they’re creating new marketing materials. Similarly, animal rehoming centres also enlist the help of pet photographers to help increase the chance of adoption.

Demand for pet photographers is high. So, if you have a spare space in the home you can convert into a photography studio, then this may be the right pet business idea for you.

4) Pet training

If you’re patient, have good communication skills and possess a way with animals, then starting your own dog training business could be the most rewarding option out there for you.

While people purchasing puppies often require help with basic obedience, it’s never too late to teach an old dog new tricks. For this reason, many pet training professionals also offer courses to tackle behavioural issues or skills courses that keep active dogs occupied. No matter what type of training you’d like to deliver and who you’d like to help, you can create training courses that suit your skills and expertise. Plus, if you have the space, you can run your new business from home. Alternatively, you can go to a client’s house and deliver a one-on-one session.

5) Pet grooming

Professional groomers help keep pets looking their absolute best. To start your pet grooming business, you’ll need a bit of space. Something like a garage or a small room downstairs in the home is perfect.

As a pet groomer, you’ll be responsible for everything from giving baths to cutting nails and doing haircuts. So, you’ll need access to running water and electricity in your workspace.

Pet grooming can be lucrative; particularly if you become an expert at treating skin conditions or de-matting fur. Thankfully, apprenticeships and college courses are both available to help you train for a pet grooming qualification. So are specialist courses that are run by private organisations. These courses can be completed in as little as a month, so your at-home pet grooming business can start in next to no time.

Things to consider when starting a business

At this stage of the process, you have your pet business idea. But, what else do you need to know and consider? Let’s take a look…

Business insurance

Before you run with any of the above pet business ideas and turn your dreams into reality, you first need to make sure you have the correct Pet Business Insurance in place. This way, you’re covered in case something goes wrong.

Our Pet Business Insurance policy is perfect for the job. This is because it provides cover for up to 14 different pet business activities at no extra cost. Public Liability is included as standard, and you receive a host of other benefits, such as Care, Custody and Control cover.

With a Pet Business Insurance policy from Protectivity, you’ll receive all the following benefits as standard:

Public Liability: You can choose to include between £1 million and £10 million worth of cover to protect your business against claims arising from property damage or injury to a third party.
Care, Custody and Control: Up to £100,000 worth of cover is provided (up to £25,000 per animal) in the instance of accidental loss, injury, illness or death of an animal while in your care.
Non-Negligent Cover: Similar to the Care, Custody and Control benefit, you are also covered for accidental loss, injury, illness or death to an animal in your care during the course of service delivery through no fault of your business.
Key Cover: You are covered up to £10,000 for new keys and locks, as well as the cost of re-setting intruder alarms and associated call-out costs.
Equipment Cover: As standard, we provide £250 worth of cover for your equipment against theft, loss and accidental damage. You can increase the protection of your items up to the value of £30,000.
Close Family Extension: Your close family members are included under your policy as standard. This means that, if you employ your husband, wife, son, daughter or any other close family, you do not need to take out Employers’ Liability

Tax

Once you have sorted your insurance and your business structure, you then need to consider the tax implications of starting a new business. This is particularly important if you’ve never started a business before, or if you’re running your pet business as a side hustle.

If you’re not a tax expert, then we recommend speaking to an accountant about the tax implications of starting a new business. They will provide you with tailored advice based on your employment situation. They will also inform you of any reporting requirements.

Business structure

Leading on from the above, before you register and start your business, you must also think about how you will structure the business. For example, will you be a sole trader, work in a partnership with someone else, form a limited liability partnership or form a limited company?

There are pros and cons to each of these approaches and the right structure for you will depend on factors such as:

The type of business you’re creating
Who you’re going into business with (if anyone)
Your overheads, costs and expenses
Your personal liability for the business
Your expected profits

Remember, the structure you choose will have significant implications on the amount of tax you pay, the degree of your personal liability, the amount of administrative work involved and your ability to raise finance. As a result, you should speak to a qualified accountant before you make a decision and ensure you understand the implications and responsibilities of each structure.

Get your Pet Business Insurance

Planning on starting your new pet business? Get a quote for Pet Business Insurance today and ensure you’re fully protected.

Our Pet Business Insurance covers 14 different activities under the same policy. It also covers liability, vets bills and equipment. Getting a quote only takes a couple of minutes and we can arrange instant cover. So, get started online today.

Get Pet Business Insurance from Protectivity

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11:13:15 GMT • 14 November 2024

What to Ask for at the Barber

12 February 2023

•

5 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 a man and you have hair, then you’re probably used to that sinking feeling you get at the barber when you’re looking back at yourself in the mirror. You know what you wanted your barber to do, but for one reason or another, he’s cutting and shaping your hair into something else. And short of shaving it all off, there’s not really much you can do about it.

It’s easy to blame the ability of the barber in this situation, but a lot of the time, it just comes down to miscommunication between barber and customer. Often this is because customers don’t know how to explain what they want, and barbers struggle to understand exactly what to do based on vague ideas and descriptions.

Solving this issue can be beneficial for both parties: customers who get the cut they want, and barbers who get satisfied customers and repeat business. This guide gives you five tips on what to ask for at the barber, to get the best results every time.

Research what you want in advance

If you’re reading this guide, then you’re already part of the way through step one. Research is everything in communicating to a barber what it is that a customer has in mind. And this goes much deeper than just finding the name of a particular style.

That’s because every customer and every head of hair is different. Some men have hair that’s longer than others, thicker than others or darker than others, for example. Then there’s the shape of the head to take into account, and where there might be any crowns. And on top of that, the current popularity for beards and facial hair add a new dimension to the conversation. Exploring ideas that work for personal characteristics is therefore the ideal starting point.

Know the lingo

You wouldn’t go into a garage to get your car fixed and ask them to take a look at ‘the thingy next to the engine’. So why would you go into a barber and ask them to take ‘just a bit off here and there’?

There is a surprising amount of terminology involved in barbering, but it isn’t a secret code: all the right vocabulary is out there for everyone to find if they look hard enough. Knowing the right phrases for what you want can break down many of the barriers in communication. Start by looking at guard numbers, types of fade and tapers, as these will form the foundation of most common men’s hairstyles.

Work out the best way to describe your style

Armed with research and terminology from the first two points, you’re now much better-equipped to work out a concise description of the haircut you’re looking for. If you can boil down all your preferences into a few short sentences, then you can deliver this to your barber as soon as you hit the chair, and start everything off on the front foot.

However, it’s important to be flexible to a certain extent, and not to stick too rigidly to your description. A good barber will be able to offer some advice on how your idea can be tweaked here and there to deliver an even better end result.

Back up your description with photos

During the research stage, it’s highly likely that you’ll have searched through photos of different styles, and found some that closely resemble what you’re looking for. If you’re struggling to translate that visual style into a verbal description, then there’s no reason that you can’t take the photo with you and show it to the barber.

Many barbers use design and style like Pinterest themselves, so that they can keep up-to-date with trends and be able to offer advice and suggestions. Using the same apps to find your style inspiration, and showing your findings to the barber on the day, can help make sure that nothing gets lost in translation.

Ask for advice if you need it

Don’t forget that barbers will have cut thousands of heads of hair over the years, and will have a wealth of experience and expertise that you can take full advantage of. And at the same time, they want you to get out of their chair feeling happy with the cut you’ve received.

Never feel afraid to ask for their opinion as they’ll be more than happy to help. Whether you’re not sure if your idea is right for you, or they want an expert view on a new style, remember that there’s a professional ready and waiting to assist.

Get your barber business insurance from Protectivity

If you’re a barber reading this, then you’ll already have plenty of experience of customers that struggle to get their preferences across. This guide can act as a business aid in helping them – and you – get the results you want.

Another important business aid for barbers is insurance, so that you don’t suffer financially should anything unforeseen occur. Protectivity offers specialist barber business insurance policies, including public liability, personal accident cover, equipment cover, and employers’ liability insurance (if you employ other barbers).

Our cover can give you peace of mind, help you grow your business with confidence, and starts at less than £4 a month. Take a closer look at all our options for barbers insurance.

Get Barbers Insurance from Protectivity

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