Uncovering the risks to small and medium size businesses
The report gathers insights from small and medium size businesses about the potential risks they may face, their awareness of risks, and how they as a business could mitigate them.
We spoke to a range of businesses throughout the UK — from limited companies and sole traders, to partnerships and limited liability partnerships.
In our 7th edition of State of the Nation, we find that while much has changed over the years, especially most recently, there is still a serious protection gap for SMEs.
- 75% of businesses have some form of business debt
- 59% would cease trading within 12 months of losing a key person
- 73% of businesses had taken out Business Protection following advice
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