Today in New Zealand, over 97% of businesses in NZ are small businesses which employ 29% of our workforce and contribute over 25% of our GDP. With the growing competition of it has become harder for each business to thrive especially small enterprises in NZ.
There are various challenges small businesses face and sometimes it can come with a hefty cost that goes out of your pocket. From little factors like customer dissatisfaction to fire damage to the property can be a sole cause of business shutdown.
Tim Grafton, the CEO of the Insurance Council of New Zealand states that “Small businesses tend to run on leaner margins, so when something unexpected happens, there tends to be less capacity to absorb the cost.” This simply conveys that it is too risky to run a business without some type of protection in place.
Your business is likely to be your main source of income that pays for other investments like your car and home. As a business owner, it can be extreme or even impossible for you to provide for or oversee all the upcoming risks. Insuring it through an experienced broker gives you a peace mind and focus more on your business. Your core strength is to expand quality od product or services and number of customers.
Organising business insurance is just one of the costs that come with running a business. It can protect you in case of any losses covered under your insurance policy. It can also compensate your business when an inevitable incident occurs and helps to ensure your business’s overall functions.
The key intake in this is that running a business comes with many risks, but one of the best ways to manage your risks is through securing a business insurance through people who know the subject.
At Aim Associates, we evaluate your business risks and identify the level of cover you need and develop a tailored plan to protect your business from unforeseen situations that may arise.