Small businesses may be looking again at their commercial insurance needs as a new survey shows many are feeling cautious about the future.
According to figures from the Federation of Small Businesses, more than a third of firms reported a decline in revenues in the third quarter of the year.
As a result, one in ten expects to reduce employment levels in the next quarter.
A net balance of 0.5 per cent of businesses anticipate an improvement in their overall prospects in the three months ahead.
The survey shows a steady decline in confidence since the start of the year.
Indeed, a net balance of 16.2 per cent of companies were predicting an improvement in the first quarter. This fell to 4.2 per cent in the second quarter.
With the outlook seeming uncertain for many small businesses, commercial insurance could provide peace of mind by covering against a number of unforeseen circumstances, such as loss of accounts receivable.
