3 Reasons your business could fail within a year

3 Reasons your business could fail within a year

1 . You face a claim for which you are not adequately insured

Claims often come when you least expect them or more specifically when you are least insured. Have you ever heard of under-insurance?

There is never a bad time to check an insurance policy nor to review your cover so start NOW.


2. A key member of staff leaves


If they leave you have to ask yourself why, what you could have done to prevent it and how you are going to address the loss?

So why not ask yourself these question NOW, before the event? You may be surprised to learn that they may not be as dispensable as you (or they) think they are.



3. Your biggest customer goes bust


Will it be “game over” for you?

What percentage of turnover and profit do they represent? How much money is outstanding at the moment?

Perhaps imagining this nightmare scenario will motivate you to diversify your customer base, NOW!

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