When you run a business – even if you operate from home or as a sole trader – you’re legally obliged to be covered by certain types of business insurance. Although this adds to your overall business expenses, it is absolutely necessary.
Small businesses – especially start-ups – may have a cashflow problem in some periods. In this case, the best direct lender can help get you through. With a payday direct loan, you can ensure that you’re covered and meet the legal requirements.
Which policies you take out primarily depends on the kind of company you have. Let’s consider the most common.
Is employers’ liability cover compulsory?
As soon as you stop being a sole trader and employ someone else (even if they only work part-time or are temps), you become responsible for their safety and welfare. For this reason, you must take out employers’ liability insurance. If they …