Tag Archives: insurance

OPSW Enterprise

2 Apr

“When you find an idea that you just can’t stop thinking about, that’s probably a good one to pursue.” – Josh James, Omniture CEO

Did You Know?

  • The South West ranks 2nd for the highest amount of self-employed workers.
  • 57,000 people in Devon are self-employed.
  • Nearly two-thirds of small business owners have no business or management experience.

Registering as a sole trader

Many of our customers ask how to register as a sole trader once they have decided to take the plunge and start their business.  This is done online here.  HMRC have a range of useful “webinars” available to teach you about a range of topics to do with tax, national insurance and Self Assessment.  You can even watch them live and ask questions.

Business Insurance

When you start trading, you will usually need some sort of business insurance, and if you are working from home or using your car, your house and car insurance may be affected too.  Simply Business is a good place to start, to find out exactly what insurance you will need and how much it will cost you. Call them on 0845 071 0270.

Start Your Own Business

We now run a range of Accredited Start Your Own Business courses at Level 1 and 2.  Visit www.opportunityplus.org.uk or call 0800 043 2440 for more information.

Case Study

Carole started a cupcake business, which she ran for four years on a mobile basis.  Following the success of the mobile business, she decided to open a cake shop in her home town of Teignmouth, allowing customers to see and sample her cakes.  She still caters for weddings and other events too.  Find out more at www.carolescupcakes.moonfruit.com

2 catercarole

 

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What kind of insurance do I need?

3 Dec

Starting your own business is such an exciting and positive experience, it can be hard to think about the “what-ifs”.  Many of the customers we meet in the early stages of their business have got a great idea and have done lots of research and preparation, but a surprising number have not considered insurance.

Every business needs Public Liability insurance.  This is to cover you in case a customer has an injury or loss and claims compensation from your business.  Professional Indemnity insurance is for businesses that offer advice or offers a professional service to other businesses.

If you run your business from home you will need to check with your home buildings and contents insurance that you are covered, and if not you will need to adjust your policy accordingly.  If you rent your property you will also need to check that your landlord is happy for you to run a business from home.  If you will be using your car for business purposes, you will need to let your insurer know and check that your existing policy is still valid.

Each business will need a slightly different type of insurance policy, so you should always speak to an Insurance Broker about your specific needs.

http://www.simplybusiness.co.uk/ is a good place to start for any new business seeking the right insurance policy.