60% of businesses fail within 10 years
According to the most recent figures from Statistics New Zealand, only 29 per cent of enterprises that started in February 2004 made it to February 2014.
The FIFA U-20 World Cup taking place in NZ until June 20 has seen a number of players sent off. Rothbury Insurance Brokers are the Official Insurance Broker of the FIFA U-20 World Cup and we're concerned with making sure our clients' businesses stay in the game.
In football, if you make an error, you might have a free kick or penalty ruled against you, receive a yellow card or even be sent off the field. The number of possible violations that football players have to look out for is high, but consider what can cause a kiwi business to be ‘sent off’. For example:
- Lack of cash flow
- Substandard demand
- Supplier businesses failing
- Unable to recover from unexpected events like burglaries, fires, earthquakes, floods.
When a football player is red carded it's just about the worst thing that can happen to them in a game. But they know they'll be back to play another day. The same can't be said for businesses and with 60% of business failing within 10 years hundreds of businesses leaving the game every year.
While you can't necessarily prevent events like burglaries, fires, earthquakes, floods or even human error, you can protect against them. By taking out the right commercial insurance – one tailored for your business - you'll help ensure your firm's operations can recover from an unexpected event.
A good insurance broker will also be able to assist with your cash flow through premium funding. This spreads the cost of your insurance premiums across the year.
Don't let your business be sent off for good - keep yourself in the game with the right business insurance cover.
About the AuthorName: Kim Matthews
I’m the Leader Business Development & Sales for Rothbury’s Hawke’s Bay branch. I commenced my insurance career in 1980, have an insight in to how underwriters and assessors work and I’m a business owner myself - all great…
I’m the Leader Business Development & Sales for Rothbury’s Hawke’s Bay branch. I commenced my insurance career in 1980, have an insight in to how underwriters and assessors work and I’m a business owner myself - all great skills and experience that make me the broker I am.
I love dealing with people and I’m passionate about insurance!Close