| For many businesses, start up costs can be | | | | they will need the cash further down the line for |
| significant. In the early stages, it can be very hard to | | | | dealing with emergencies. Some choose to operate |
| meet all outgoings and remain profitable. Even for | | | | with suitable cover. This can be a very risky move as |
| more seasoned companies - and especially in the | | | | a single lost court case can wreak financial havoc on |
| tough economic climate - cashflow sometimes dries | | | | the company. |
| up, making it essential to have reserves in the bank | | | | Instead, there is another option: pay monthly public |
| for rainy days. | | | | liability insurance. Using this method, you set up a |
| One expense that many companies have to deal | | | | direct debit and have your premiums come out each |
| with is paying for public liability insurance, which | | | | month, giving you far greater control over your |
| covers compensatory and legal costs in the event of | | | | finances. |
| a third party claiming damages against the company. | | | | Smaller monthly payments are far more manageable, |
| It's not legally required but for many companies it is a | | | | especially by start-ups and smaller businesses, making |
| necessity, providing peace of mind and invaluable | | | | public liability insurance available to everyone. And |
| financial cover that can make the difference | | | | when you benefit from total cover in the event of |
| between entering bankruptcy and staying afloat. | | | | external litigation, you can relax and concentrate on |
| However, when faced with paying an upfront | | | | what comes naturally: taking your business to the |
| premium, some businesses are reluctant, worried | | | | next level. |