Small business will suffer first if there is another European credit crunch
Although this is probably common sense, the Independent newspaper has stated that small businesses will suffer first if there is a repeat of the credit crunch. This sufferance will arrive in the shape of increasingly difficult credit as banks look to shore up their defences against further losses.
William Hague has advised British entrepreneurs and executives to get on a plane in order to attract business from further afield than the currently threatened Eurozone countries.
This doesn’t sound positive; however there are ways to protect small businesses from a range of potential financial threats.
For example, diversifying into markets that are further afield than your usual portfolio of customers offers some protection against a Eurozone credit crunch. Many companies are turning to new channels of attracting business including social media and running email campaigns to targeted markets.
Company insurance offers a viable means of protecting against liability claims, damage to property, and even loss of earnings that could arise from an insured claim. Every small business should have an adequate package of protection in place so that it gives them peace of mind that they are protected from their trade’s risks, as well as the financial means to continue trading.
The Insurance Octopus can arrange highly competitive quotes for company insurance policies that are tailored to the requirements of your business. Whether you are a tradesman, director, teacher, run a retail business or you are a commercial landlord, you can benefit from a relevant and competitive insurance policy offered by The Insurance Octopus.
Why not give us a call today to find out more?