We are proud that 1 in 10 small businesses* are insured through the BizCover platform
How did we calculate this awesome stat?
- According to ABS, there are a total of 2,506,012 SMEs (defined as business with under 20 employees). 1,550,151 of these businesses are self-employed.(1)
- The ICA reports a non-insurance rate of 12.8% in the small business sector with sole traders having the highest rate of non-insurance at 24.0%.(2)
- We have a customer base in Australia of around 210,000 in AU so 1 in 10 small businesses are insured with BizCover.
*”Small business” as defined by ABS and is based on ABS’s Counts of businesses August 22, and the estimate for businesses without insurance from the ICA’s 2015 guidance.
