As a sole trader with a skill to sell to paying customers, you’ll be aware that it’s not just your skills that are important for your business’ success – it’s also how you manage to market yourself, retain customers, and find the lucrative business niches you need to succeed. And on the flip-side you’ll be able to avoid failure and costly damages by attaining the correct legal coverage for all the work you do as a professional.
That’s what this guide is concerned with: how to protect yourself in the eyes of the law in order to make the most of your contracting business.
Part of your schooling in the skills of your trade – and part of the skillset of the tradespeople who work with you or for you – is an understanding of regulations. These can vary wildly from industry to industry, and from job to job, but the key here is health and safety. If you are found, in the event of damage or an accident, to have flouted the regulations that are in place to keep you and other people safe, you’ll not be able to claim on insurance – and your business will suffer.
Make sure that you’re aligned to the regulations at all times, with frequent updates for your staff, in order to avoid these damaging and difficult situations.
Being insured is one of the best ways in which you can avoid the damaging results of a business loss – whether that’s through theft, damage or injury. Getting contractors insurance is a doddle in the digital age, with excellent internet-based providers able to tailor a package of cover to your business, at competitive rates. With this insurance cover, you’ll be able to operate in the peace of mind that if something damaging does happen to your business, you’ll be able to turn to your insurance for support in order to avoid costs and the potential fatal debt these can impose on your business. Secure your contractors insurance package today in order to protect your business and make your legal claim for compensation as strong as possible.
Any business should operate within the law – but, more than that, they should be in constant liaison with the lawyers and attorneys who are familiar with business law and the regulations that cover business in your locality. Without legal advice, you may sleep-walk into legal issues that you may have been able to prevent – ultimately leading to your business’ demise.
Set up a relationship with a local law firm that’s well-equipped to help you with any questions of legal disputes that may arise in the process of your contracting. One of the most typical – complaints and small claims from customers – can be dealt with and settled out of court if you have a legal team onside to help you formulate a response to a legal letter demanding compensation that may be disproportionate and unlikely to win out in a court of law.
These tips should help any contracting business deal with the legal side of their entity, enabling steady growth without the threat of damaging costs.