Start-up businesses must insure against business failure - Telegraph

Start-up businesses must insure against business failure - Telegraph: "Britain has become a nation of budding entrepreneurs but three in four SMEs would struggle to survive a major interruption to business without the necessary insurance. In association with AXA."

AXA is in total agreement with the government that small business start-ups are crucial to the future growth of the UK. However, it is concerned that without the proper protection in place new businesses may have the opposite effect. AXA is issuing a warning that it is important for businesses to protect their accumulated assets before they look for growth opportunities.

Over the last few years Britain has seen a wave of entrepreneurship as individuals fulfill their aspirations of running their own business, with nearly 450,000 small businesses registering during 2011, a significant increase on the 380,000 registrations during 2010.

However, new research from AXA has found that many are starting up with little awareness of the risks they face, nor the knowledge of how to protect themselves. One in four said they did not know what sort of insurance they needed when they launched, with the main reasons cited as being new to running a business and not knowing where to go to for advice.

'via Blog this'