Insurance

Point 1: Strip it down to the bare essentials and indemnity insurance isn’t that complicated. It is designed to protect your business against compensation claims from clients if you make mistakes or are negligent in your work. And if you think clients won’t ever claim against you then think again.

Lawyers know there are big fees to be made by taking action on behalf of unhappy customers so they are keen to take them on and see how far a case can go.

Even if you aren’t found liable the time and money you need to spend defending yourself can make a huge dent in your profits.

Some firms even threaten to take legal action just to delay paying their bills – dealing with this will also take time and money if you don’t have proper insurance.