Grants and Loans: How to Get the Best DealGrants and Loans: How to Get the Best Deal


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Grants and Loans: How to Get the Best Deal

Hello, my name is Jack and I live in Brisbane, Australia. Recently, I have been considering returning to University to complete a PhD in life science. Because I am a mature student, I will need to pay a lot of the tution fees myself. I can't really afford it at the moment so I have been looking for a grant or loan which will help me through my studies. I spent some time looking around but I am not very savvy when it comes to money. My friend works in finance and he gave me some fantastic advice which allowed me to borrow money at a super low level of interest.

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Top Things to Consider Before Purchasing Insurance for Your Small Business

If you are a small business owner, you are aware that things don't always go according to plan. Circumstances that are beyond your control can threaten the operations of your business or leave you with hefty fines and lawsuits. Buying business insurance can ensure that you are covered when such unforeseen circumstances occur. However, before approaching a commercial insurer, there are several things to consider if you want to help save time and money.

Here are the critical questions that you should ask yourself before obtaining insurance for your small business.

What are your business risks?

An insurance policy provides coverage against unforeseen risks in business; therefore, before purchasing a cover, you need to understand the risks associated with your business. The following questions can help you understand your business risks:

  • What is the nature of your business? Do you deal with goods or services?
  • Does your business have physical premises or is it online?
  • Do your customers come to you or do you go to them?
  • What type of equipment do you rely on to run the operations of the business?

Answering these questions will give you a clear picture of your business and the types of unforeseen situations that may present themselves. Think about all the things that could go wrong, what you may be held liable for by staff and third parties and what you can't operate without. These are the things that will make up your insurance cover.

What type of cover do you need?

Businesses require different kinds of insurance cover depending on the risks that the enterprise is exposed to. Before buying a policy, look into any membership, legislative or industry requirements for minimum insurance. If any, you will have to comply and include the cover in your policy. In addition to the mandatory cover, you need to protect the business against the risks that you identified. Here are some of the common types of insurance that you may need:

  • Public liability insurance, which offers coverage for injury to third parties and property damages as a result of business operations.
  • General business insurance, which covers accidental damage to equipment or business losses due to interruptions that result from an insured occurrence.
  • Workers' liability insurance, which covers medical costs and loss of income to workers as a result of injuries and illnesses suffered at work.

After determining the types of insurance needed, seek professional help from an agency like National Corporate Broking Pty Ltd to calculate the amount of insurance that will adequately cover the enterprise against the outlined risks.