Charity and Care Industry Insurance

Full range of business insurance solutions for single charities to the largest not for profit organisations. Offering solutions from charity shop cover on individual basis or to a large portfolio of shops, commercial combined packages for larger organisations.

Type of covers and options available under a charity insurance policy can include:

• Property – from a single unit to many units spread across the country
• Liability – Employers, Public and Product
• Equipment Breakdown
• Fidelity Guarantee
• personal accident assault cover

We do not offer an online quotation for charity insurance because we understand that no two charity operations are the same. All of our charity insurance and care insurance products are tailored to meet the needs of the individual organisation. Some charities may only require liability insurance products and some may need a comprehensive solution covering buildings, outdoors events, stock and staff.

Options Available to Charities looking for business insurance:

• Liability insurance policy only – usually requestedby  smaller charities
• Shop package policy – This is an all risks charity insurance policy suitable for small, medium and large charities.
• Combined insurance policy – This product is designed for charities that are complex and need a bespoke solution.

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Commercial Property Insurance

Many commercial property owners are not only looking to save on their insurance but also require comprehensive buildings insurance cover that will provide protection against the many risks that commercial premises are exposed to. We, at Active have a vast knowledge of commercial property insurance and can cater for the needs of landlords with a single shop thats rented and to commercial landlords with a portfolio of commercial and residential buildings.

Typical commercial buildings insurance policies available:

• Shops and Office – let or owner occupied
• Shops and Offices – with residential accommodations / flat above
• Unocupied commercial property – such as a vacant pub, shop, office, warehouse and industrial units
• Office blocks with multiple tenants
• Warehouses, factory, distribution and processing plants
• Shopping centres and commercial shop parades
• Function halls such as weddings, party’s and conference centres
• We can cater for almost any type of commercial premises insurance

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Sole Traders Insurance

Public liability insurance quotes for one person businesses such as tradesman, small offices and shops. Instant online business insurance quotes for sole traders.

Instant online sole traders public liability insurance. Quote, Buy and Print Documents. Over 240 trades to choose from including builders, carpenters, carpet fitters, plumbers, gas fitters, heating engineers, tilers, painters, gardners, beauticians, nail technicians, etc.

Sole Traders Businesses are run by an Individual

A sole trader is an individual trading in his or her own name or under a suitable trading name. Sole traders are self-employed, for example as shopkeepers, electricians, hairdressers, consultants or advisors. Even though public liability insurance cover is not a legal requirement for sole traders to have, it is still very important for most sole traders to have some form liability cover. Most customers in the building and construction trade usually insist on seeing a copy of the public liability insurance certificate before they consider giving you a contract for the work.

The essential feature of this type of business is that the sole trader has full responsibility for the financial control of his or her own business and for meeting running costs such as marketing the business, stationary, tools and sole trader insurance etc and also capital requirements. The sole trader has the full responsibility for all the debts of the business.

Advantages to being a sole trader

• Freedom – The sole trader is his/her own boss and has complete control over decisions.
• Profit – The sole trader is entitled to all the profit made by the business.
• Simplicity – There is less form-filling than for a limited company. Bookkeeping is less complex. Employers Liability Insurance cover is not required as part of the sole traders insurance policy until they employ staff.
• Savings on fees – There aren’t any legal costs like you’d get with drawing up a partnership agreement or limited company documentation.

Disadvantages to being a sole trader

• Risk – There is no one else to share the responsibilities of running the business with.
• Time – Sole traders often need to work long hours to meet deadlines.
• Expertise – the sole trader may have limited skills in areas such as accounts and tax.
• Vulnerability – There’s no cover if the trader gets ill and cannot work.
• Unlimited liability – the sole trader is responsible for all the debts of the business.

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Business Plans

A Business Plan sets out the Objectives of the business

A business plan is a document that states what the owner(s) want to do and how they intend to do it. There are several reasons for writing a business plan before starting a business:

• The main purpose of a business plan is usually to get financial backing for the business. A business plan shows the financial risk involved in setting up the business – this is important for potential lenders or investors who may want to help finance the start-up. Banks and venture capitalists will want to see a business plan before they will think about investing.
• Setting down all the plans for the business in a report helps the entrepreneur to assess the business’ strengths and weaknesses, and allows them to see whether their idea is actually realistic. It also helps them to identify areas that they need to think about and plan more thoroughly.
• The business plan is an important management tool – it gives details of business objectives, which the entrepreneur can compare with the actual performance of the business once it starts trading in order to track its progress. It also reminds the owner of the ideas they had before the business started.

Business Plans are Divided into Sections

Most business plans contain the following sections:

• Executive summary – this is a general overview of the business which contains the key points from all the other sections. It’s really important because if potential investors aren’t impressed by the executive summary then they might not bother to read the rest of the business plan.
• Business summary – what type of business the entrepreneur wants to set up, what product(s) or service(s) the business intends to provode, why it wants to provide them and what gives it a competitive advantage. It also includes the legal structure of the business, and the entrepreneur’s vision for the future of the business.
• Production plan – this sets out how many products the business intends to produce, and how it will go about producing them.
• Marketing plan – the entrepreneur defines the market for the business and explains who its main competitors are, who the target customers are and what the product’s unique selling point is. It includes details of any market research that the entrepreneur has done, and any promotions that they intend to run.
• Human resources plan – outlines the relevant qualifications and experience of the entrepreneur and other people involved in setting up the business. It also sets out how many employees the business intends to take on, and how much it intends to pay them.
• Operations Plan – gives details of where the business will be located, whether the business will own or rent property and machinery, etc.
• Financial Plan – covers all of the financial forecasts for the business, e.g. how much capital they need to start the business, howe they are going to finance the business, and their break-even calculations. It also includes a cash flow forecast and an estimated profit and loss accounts and balance sheet for the first year. The financial information explains how the business will survice in the start-up period.

It’s Difficult to produce an Accurate business plan

• Business plans are never 100% accurate because it is impossible for a business to get accurate information about costs, revenuws, etc. before it has started trading.
• Just because the business plan plan says that the business shpuld be making a profit of £2000 a month doesn’t mean that that’s what will actually happen – there is no way of knowing for definite what will realy happen, so there is always risk involved in setting up a business.
• However, producing a thorough business plan reduces the risk of the business failing.

Entrepreneurs can get Advice on creating a business plan

• The business plan is really important, so entrepreneurs need to get it right.
• Entrepreneurs can get free help and advice on writing a business plan from a government organisation like Business Link, or from a Small Business Advisor at their bank – they can give entrepreneurs sample business plans or CDs that guide you through the process of writing a business plan. Some websites also provide sample business plans free of charge, which entrepreneurs can adapt to their own business.
• Entrepreneurs can also get expert guidance and advice from business consultants or accountants, but this is a more expensive option.

Establised Businesses produce business plans too

• Business plans are not just for new start-up businesses – it can sometimes be very useful for established businesses to write a new business plan.
• If a business is planning to launch a new product, creating a new business plan can allow managers to see whether it’s likely to be profitable. If not, they might decide not to go ahead with the launch.
• A new business plan can also be useful if the business is planning to expand (e.g. if the owner of a successful restaurant decides to open another branch in a diffrent town) especially since they might need to find external finance to do it.

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Troubling Times for Businesses

So, the general election is now upon us and, as of writing, the electorate are on their way to the polling booths to decide who will run our country. Whoever should win be it David Cameron, Nick Clegg or the current Prime Minster Gordon Brown,  none of them are under any illusions that he will inherit the most difficult economical challenge seen in modern history.

Whilst the United Kingdom has its own debt issues to contend with, the Greeks are facing a financial abyss – the Greek government knows this as does the rest of the European Union but so do their people. They know that their government must press ahead with compulsory (and significant) budget cuts and as a result their people have protested in huge numbers which, regrettably, has escalated in to violence.

The TV media have sadly also reported the deaths of three innocent bank workers.  The state authorities are under no illusion that this may continue. Will this animosity spread to the UK when our government has to make similar demands on their people? Those old enough to remember the early eighties know only too well that if the touch paper is lit, people could take to the streets.

The insurance industry like most others is not immune to these hard times ahead both from an economic point of view and from a physical risk point of view. Business insurance rates will surely have to increase to cope with a potential influx of both legitimate claims and fraudulent claims.

Premiums for business insurance purchasers of shops, offices, restaurants, public houses, hotels and the like have remained spectacularly low despite the recession and are set to continue to do so. But for how long is anyone’s guess. If premiums start to rise dramatically as other classes of insurance have already seen, businesses will have no choice but to pass on their increased costs to customers. And so the cycle continues.

Business insurance proprietors may elect to choose not to have insurance or reduce their cover to avoid this. This is extremely dangerous but yet tempting for some. One catastrophe alone could wipe out and destroy years of hard work. Want some advice? Don’t be tempted.

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