Is business insurance compulsory for tradies?

P ublic Liability insurance may be a requirement before you can work on a job. It is always important to check your contract or agreement to see if a minimum level of cover is also stipulated.

I’m a sole trader. Do I need tradesman insurance?

Just like any other sole trader or self-employed business, insurance is something which you should consider as part of your business plan. Tradesman insurance helps sole traders protect their business assets, tools, stock and more, so they’re not left with unplanned bills when things go wrong. While some types of insurance may be a requirement, there are a variety of cover options designed to protect the things that matter most to your tradie business.

How much Public Liability insurance should my tradie business have?

Every tradie business is unique. The amount of Public Liability cover you choose may be different than the tradie down the street. BizCover offers several levels of Public Liability cover — $1 million, $2 million, $5 million, and $10 million—so you can choose a cover amount that fits your business needs. When choosing your cover amounts, you may want to consider: The size of the jobs that you are working on – The higher the value, the higher risk. You may want to increase your Public Liability insurance accordingly. Your business contracts – Is there a minimum amount of cover stipulated in your contract? Meeting contractual obligations is essential.

Sole Trader Insurance

Public Liability and Portable Equipment cover

Public Liability and Portable Equipment cover
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Insurance For Tradesmen Sole Trader Insurance

The life of a sole trader can be a thrilling adventure of independence and self-reliance. However, this journey to carve your unique career path is also riddled with confusion and misconceptions, especially when it comes to insuring your solo venture.

Changing business ownership for sole traders

There are over one million sole traders in Australia. Sole trader ownership is all about striking out on your own, doing things your way and creating something extraordinary from very small beginnings. It’s the Australian way, and it’s one of the most popular business ownership structures in the country. In Australia, there are more than 2.5 million businesses operating today. Of those, around 27% of business have less than 4 employees and 61% are self-employed.

8 essential business tips for sole traders and small business owners

Sole trade and small business owners are responsible for every part of their businesses. That can be daunting, especially when you are first starting out. To help, we’ve compiled a list of eight essential tips to help self-employed and sole traders set up and better manage their small businesses.

How to pay yourself as a sole trader or a business owner

If you’re a sole trader, you’ll wear many hats throughout your average working day – and you deserve to take home your fair share of pay. But between your tax obligations, super contributions and insurance, knowing exactly how to correctly and accurately pay yourself can be a valuable skill to have.

Sole trader vs company: Which business structure is right for you?

Choosing a business structure might not be the most glamorous part of setting up your business, but it’s absolutely crucial. This decision will affect how much tax you pay, how much red tape you have to deal with and what happens if things take a turn for the unexpected.

How to set up your own sole trader contracting business

Becoming a sole trader and starting your own self-employed business can be a highly rewarding and fulfilling journey. The Australian economy is overwhelmingly made up of small businesses (97.2%), with around 62.5% of these being self-employed sole traders. And there are plenty of advantages to becoming a sole trader, such as:

How to grow your business as a sole trader in 10 steps

To grow a business as a sole trader can be challenging – because it’s all up to you. Not having people around to bounce ideas off could lead to bad habits that stop you expanding your business. Or perhaps you just simply don’t have the knowledge or resources to take the next step.

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Sole Trader Insurance

Public Liability and Portable Equipment cover

Sole Trader Insurance

Public Liability and Portable Equipment cover

Sole Trader Insurance

Public Liability and Portable Equipment cover

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