Q.
We are a 17-man IT consultancy which has been running for just over a year. Our biggest client has just offered us a massive piece of business in its US and Paris offices, starting immediately. The contract is a profitable one, which would triple our turnover. The problem is that we would have to double our staff numbers to service the contract straight away. I have three main concerns. The first is the disruption this would cause to the business, at the expense of my other clients. The second is becoming over-reliant on one customer. The third is the strain on the company’s funds that will be made when new staff are hired. I’m starting to think that turning down this contract may be best for the health of the business. What advice can you offer?
Q.
I read the article ‘13 reasons why businesses fail’ and realised I should have a disaster recovery plan or strategy in case something terrible happens. I run a chain of eight ski shops, but a third of my sales are online. I’ve got basic insurance but don’t think I could survive five weeks of not trading as ASOS had to cope with. Where do I start?
Q.
I’m about to start shipping my goods abroad, what ‘goods in transit’ cover do I need?
Q.
I’m considering relocating out of London. One consideration is that my sales people will no longer be able to use the tube to get to meetings. What am I liable for if they use their own cars to get to meetings and what cover should I have? Would these costs be reduced if I hired a fleet of cars and insured them all under the business?
Q.
I read with interest the ‘Could Your Business Survive Without You?’ feature in the last issue of GB. My business partner and I don’t have any insurance protecting the company or each other. What do we need and how much can we expect to pay?
Q.
In our busy office we need to have couriers coming and going all day so it would be fairly easy for someone to con their way onto our premises. Would I be able to claim for stolen goods if a burglary was to occur in this way without anybody physically breaking and entering?
Q.
You recently featured two articles on exporting. I am planning to expand my business this way myself in 2005. Will I need marine insurance and if so, why?
Q.
I’m in the process of renewing my company’s business premises insurance. However, the premiums offered by our existing insurer have skyrocketed, despite the fact we’ve not had to make a claim in the past two years and, according to statistics, crime in our area (Glasgow) has dropped by 37%. We’ve a good alarm and locking systems on some of the internal doors, but are there any other steps I can take to help bring the cost down?
Q.
Back in the autumn there was a lot of talk about directors being responsible for corporate manslaughter. What is the current status on this and is it something I need to worry about?
