Do you have your own small business? Are you considering striking out on your own and starting your own small business? Operating as a sole trader is a great option for many people.
It can suit natural-born leaders, people who show initiative, or those that simply prefer to be their own boss. However, on top of all the amazing benefits that operating as a sole trader offers, there are also some downsides. When things go wrong, you could be held personally liable for any damages and your business could be at stake. No matter how meticulous you are, accidents can and do happen, even in the best-managed workplaces. The right type of business insurance can protect your business against financial loss should the unexpected happen.
One of the most popular typed of insurance for sole traders in Australia is Public Liability Insurance*. Public Liability insurance is designed to provide protection for you and your business in the event a customer, supplier or a member of the public brings a claim against you due to their being injured or sustaining property damage as a result of your negligent business activities.