Benefits of Taking Home-Business Insurance Policy

Home-based business is the popular choice for entrepreneurs who want to do business with small investments. According to National Statistics’ Labour Force Survey, there are 2.43 million people (Q4 2011) in UK who run a business from home. These self-employed home-workers are the fastest growing part of UK workforce, whose number rose by 28.16% over the last decade.

Since home-businesses have small capital, they do not involve huge or costly business assets or workforce. However, like any other large or medium sized businesses, home-businesses too are prone to wide range of risks. Regardless of the size, every home-based business needs to get insured to protect the assets and revenues of the business owner. Let us see why and how insuring a home-based business is profitable.

Importance of home-business insurance:
Many business owners assume that they do not require a separate insurance for their home-businesses, as they already have a home insurance policy. But, many renters’ or home owners’ insurance policies do not automatically cover a home-business. Even though your home insurance covers contents in the home, it may not extend to your home-office equipment. Similarly, personal auto insurance policy does not cover vehicles used for business purposes.

This clearly means that your home-business is lacking protection. Thus, in order to secure it from any unexpected losses, it has to be protected by taking sufficient insurance policy.

Benefits of taking home-business insurance:
Now that we know the importance of home-based business insurance, let us look at the benefits one can get by insuring his business.

•Claims of negligence: As most of the home-based businesses include companies that offer professional services, such as consultancy advice, design or financial planning, medical or legal advice, a typical home-based insurance policy definitely includes professional indemnity, which protects business owners from the claims of negligence. May it be a piece of flawed advice or a wrong service, it could result in serious legal claims from the clients. In such scenarios having home-business insurance helps the business owner to meet the expenses incurred in defending himself against the claims.

•Revenues and assets: Business property such as contents, stock, equipment, vehicles, furniture, electronics, etc., is very important for any company. Any loss or damage to them significantly affects the profits of the business. Hence, by taking home-business insurance, which offers cover against all minor and catastrophic losses, you can safeguard your business assets and revenues from all unforeseeable risks.

•Coverage for third party injuries/damages: Another advantage of home-business insurance is the protection it offers against third party injuries/damages because of your business activity. Anything like a bodily injury, property damage or a manufacturing error could result in hefty compensation claims from the injured. Thus, having insurance policy enables you to run your business without the fear of a lawsuit or losing the business in a legal battle. Besides providing compensation costs, the policy also covers legal fees helping you to continue your business without any interruption.

•Medical aid and paid leaves for injured employees: This kind of coverage is optional. If your home-business has workers/employees working for your business, then you can include this cover in your policy, which provides employees with medical care and paid leaves if they are hurt on the job. Thus, this policy relieves you from the burden of taking care of employees’ medical expenses and hospital bills.

With many home-based businesses showing interest to take insurance policy, insurance companies have come up with various policies. But, in order to get a tailor made policy which suits your needs and business requirements, you need to approach a reliable and reputed insurance brokerage firm. These firms suggest you with the best policy that covers all the risks associated with your home-business, thus allowing you to make a worthy purchase.

Choosing the Best Shipping Label for Your Needs

What you do when you order anything online? Keep patience and wait for the thing to arrive. On the other hand, the company which is selling the product has to get to you to deliver the product. How do they do that? Remember you need to add your delivery address. That is exactly mentioned on the shipping label. It is the key information that helps to move the shipment from one hand to another. The courier company uses it right from the warehouse to reach to the customer’s doorstep. Now, with the carrier, you may find different types of templates.

If you are the company which is going to buy the shipping label, make sure to know the type of printer you have. This article will guide you to find the right printer.

Inkjet and Laser Labels

Having an inkjet or laser printer in a home or office is common. For them generally, a sheeted product is required. A sheeted label stock of different colors is found which are made of different materials. Some only designed for the laser printer is also found. There are types that are removable or permanent. Make sure that the label you are purchasing is compatible with the printer you have. If you are looking for a green alternative, there are sheeted labels found that are made from the recyclable
materials.

Thermal Transfer

With the thermal transfer printers the thermal transfer labels. Ribbons are used for this one. The system of installing ribbons and ordering supplies is quite a complex in these kinds of labels.

Direct Thermal

These labels are sensitive to heat. They do not need any ribbon or ink. These kinds are mainly useful for industrial or desktop direct thermal label printers. The desktop thermal printers generally have one core in comparison to 3 core industrial direct thermal printers.

Copier

Get a label that is rated to be used in the copier machine if you are planning to make use of the copier machine. Any label is not suitable to work here.

Pinfeed & Dot Matrix

Dot matrix printing is the most popular means of shipping label printing. This is because of the percussion achieved for printing. The pinfeed labels come in different colors and you can choose between temporary and permanent adhesive.

You may also choose the weather resistant polyester stock. These are mainly good to resist cold and rain when the packages are out to be delivered to the customers. No matter what you choose ensure that you maintain the safety of the goods that the customers have order.

3 Useful Tips for Buying Wholesale Supplies

Once a retail business is in a position of getting regular sales, it is worth looking at buying in bulk from a wholesale supplier. This will give a variety of benefits including the ability to buy the low-cost stock and increase the profit margin. But, it is usually best to wait until an e-commerce business is making money, because the wholesale lots often have a minimum order amount with goods costing at least $150 of more.

Here are three useful tips to consider when buying supplies in bulk:

Compare prices

The first step to buy wholesale is to research the different online sites and compare the cost of the different items. It is great to find a site that gives heavy discounts on the goods you trade in, but it is still worth the effort to shop around to find the most competitive deals to match the needs. A further key consideration is the wholesale minimums. This relates to the volume of stock to be purchased per single order. This can vary significantly with the different wholesalers, so it is important to find something that trades in a volume that is within your budget.

Website’s legitimacy

It is essential to check a particular wholesaler is entirely legitimate before committing to make an order. Look for reviews or recommendations from other buyers. This will let you know the quality of delivery service and the goods. Only use the sites that are highly rated and get a lot of positive feedback from fellow buyers. Without doing the proper checks there is the risk of signing up a fake e-commerce site that looks fully functioning, but doesn’t actually ship goods and you lose your hard-earned cash.

Do your calculations

Before making a large order of wholesale materials, it makes sense to do your calculations to ensure you are in a position to increase your profit potential. While it can help to improve the actual profit margin, there isn’t likely to be much benefit if you are only making minimal sales. In most cases it is practical to wait for a business to make steady sales before ordering a large volume of supplies.

While some may think it is best to order in bulk goods from the start, there could be problems further down the line if they don’t sell as expected. This is certain to cause more difficulties for those who bought on credit and may have interest accumulating. Also, if buying time sensitive items like seasonal fashion, you have a further need to conduct the timely business.