From personal trainers to fitness instructors, the health and fitness industry covers many occupations.

As a small business owner, you know all too well that the fate of your business is in your own hands. But did you also know that as a company director or senior manager involved in the management of a company, you also carry specific responsibilities that have the potential to also leave you personally liable if things in your business don’t go as planned.

Just imagine: A phone call out of the blue. The caller has a voice you don’t recognise. He’s telling you he is hurt – badly – and you’re responsible. You hang up.

Liability can be a confusing term for small business owners. You’ve probably heard of Public Liability insurance, but what about Legal Liability?

Having complete control over your business is a wonderful thing, so it should come as no surprise that the sole trader route to business ownership is very popular in Australia’s small business owner community.

Do I Need Management Liability Insurance?

Sole traders are people who own and run a business as individuals. Australian sole traders enjoy many benefits that come with being self-employed, from setting their hours and rates to choosing the clients and customers they work with.

There is nothing like being your boss. The freedom, the opportunity to pursue your passion and being in control of your career path. It also comes with the responsibility of managing your finances, marketing and other key plans for success. Any solid business plan should have a focus on risk management strategies and protection for your business for the long haul.