04 Apr Eternity Autumn Newsletter 2019
SAFEGUARDING YOUR BUSINESS IN THE FACE OF CHANGE
Is your business prepared for EOFY?
Autumn is a season of change, and with the end of the financial year approaching, it’s a great time to reflect on the health of your business and assess the changes you’ve implemented over the last year.
This kind of reflection helps youdevelop a strategy to take into the new financial year to foster business growth and improves your operations. Whether it’s investing in new equipment and technologies, looking at expanding into a larger office space, taking on new employees or changing your processes, pre-planning with the end of financial year in mind is the best way to set yourself up for success.
Just like your business, many others choose to evaluate and implement changes at the end of the financial year, so you needto look at what this means for you. Increased costsor changes to the way you work with suppliers all need to be included in your planning.
At Eternity Insurance Services, we’re always excited that the end of the financial year givesus the chance to help our clients navigate the many avenues for growth.
Your changing insurance needs
When planning for any change, it’s imperative that you consider your changing insurance needs to ensure your business is completely protected from risk.
No matter how insignificant a change may seem – buying a new printer, working with a new courier or even changing a supplier – it could have a significant impact on your business if anything goes wrong and you’re not covered.
You also need to make sure that you don’t undervalue your business and property. Your insurance premium is just an evaluation of the value of your insured goods and the amount of risk that you’re transferring to your insurer. Undervaluing your business, property and assets might reduce your premium, but will leave you unprotected and exposed when something goes wrong.
So, what should you do?
Insurance can be confusing, and it’s hard to know what you need and if you’re getting the best deal on your protection. That’s where Eternity Insurance Services comes in.
Our team have extensive experience working with businesses of all sizes to ensure their insurance needs are correctly in place. No matter what industry, we’re able to guide you through your options so that your business is adequately protected through periods of change.
Some things to think about going into tax time…
- Review your finances. This helps you to understand your potentials moving forward before you put any other plans in place.
- Update your marketing and business plans. Set goals for your business and measurable tasks to help your track their success.
- Assess your business structure. Restructuring is essential when you’re thinking of growing and expanding and will impact a lot of other aspects of your business.
- Evaluate your insurances. We can’t stress enough how important it is to keep your insurances up-to-date through periods of change to avoid severe problems for your business.
New Teammate at Eternity
We’ve experienced some changes ourselves at Eternity as we welcome a new member to our team. We’re excited to introduce Thomas, our new Authorised Insurance Broker, who specialises in business and motor insurance. Thomas has extensive experience in the retail and hospitality industries and takes the time to understand his clients to fulfil their insurance needs with a reliable and efficient service.