Fit-for-purpose: business planning for the months ahead
As Australia emerges from lockdown, businesses are now facing the next hurdle.
Cash flow is the lifeblood of business. So if a disaster like a fire, burst waterpipe, or legal proceedings against you halts your operations, your business could fail.
Insurance is there to help you cover your costs if things go wrong. But if you’re underinsured, you may not be able to cover the running costs of your business while you’re getting back on your feet.
When it comes to securing cashflow, many businesses make these two common mistakes, leaving them underinsured – and vulnerable.
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Photo by Kelly Sikkema on Unsplash
As Australia emerges from lockdown, businesses are now facing the next hurdle.
Sole traders enjoy the "simplest and cheapest business structure", according to the Australian Government Business Register. You're in full control. You make the business decisions. But there are also a range of risks you need to be aware of.
Disruption has been a constant theme for hotel owners thanks to online booking platforms, home-sharing, Airbnb, and, more recently, the pandemic. So, how can you bolster your business against the risks of potential losses?
The right business asset protection strategies can help safeguard your personal and professional wealth against unexpected claims and liabilities. As your brokers/advisors we can help keep you covered.
Economic uncertainty may have prompted you to reduce, change or cancel your business interruption insurance. That’s a natural reaction in these uncertain times. However, it's important to know how that could impact your business and possibly come back to bite you.
Your business can change a lot in a year – expanding, shifting online, hiring staff, or upgrading equipment.
Across Australia, more businesses are operating without offices or in-house servers, choosing cloud-based platforms instead. Remote and flexible work has accelerated this switch for thousands of SMEs.
With spring here, it’s the perfect moment to reset your business and build momentum for the year ahead.
Casual labour is getting more expensive, and employers are feeling the pinch.
When a cyber incident occurs, your first step should always be to contact your insurer immediately