As a small or medium sized business owner, you should be proud to form the backbone of the UK economy. You currently form 99% of the number of UK private sector businesses, and 60% of employment in the private sector is reliant on SME’s like yourselves, making you vital to the UK economy.
Being so vital to the UK economy means as business owners, you are aware of the risks that you may face including changes in the economy, competitors and ongoing profitability. You are also prudent enough to cover some of these risks like premises, machinery, vehicles and computer systems. Yet these are not the necessarily the biggest risks you may face as a business owner.
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