Stockport is home to a very active and dynamic business startup community where many people are taking the opportunity to start a business for a wide variety of reasons.
Getting the start up costs as lean as possible at the outset helps whilst the business is being buit up. This often means working from home.
Kirsty Hewit from EN for Business investigates further…
More than three million homeworkers are potentially operating illegally, Axa Business Insurance has warned.
There are around 5.4 million homeworkers in the UK and 16 per cent (over 850,000) of those employ one or more people. Yet just three per cent (approximately 150,000) have employer’s liability insurance. This insurance is mandatory even if homeworkers only have one staff member on their books.
In addition, just 14 per cent, or 750,000, of homeworkers who were quizzed said that they have business car insurance, despite 66 per cent (more than 3.5 million) use their vehicles for business purposes.
Darrell Sansom, managing director of Axa Business Insurance, said, “The number of people working from home has grown by over 20 per cent in the last ten years or so but our research shows that these people take a more relaxed view on insurance than those working from business premises.”
He suggested that most homeworkers break the law unintentionally, but it is vital that they check what cover they need in order to meet legal requirements.
Read the full story on EN For Business here
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