A retailer’s needs

Running your own shop is not that easy. The cost of doing business in Seychelles is generally high. Such is the life of the retailer trying to stay afloat in an ocean of similar competitors.

Why some businesses succeed
Some out of pure luck, but for the most part it is because of strong business acumen. A good business person knows their market and is quick to react to the ever-changing needs of customers. If you are in the clothing business, you need to keep up with fashion trends. If general groceries are more your area, then you need to improve the shopping experience of your client. If it is technology you seek, then you need to provide all the latest gadgets and gizmos. Whatever it is, you need to be good at it and on top of it.

One areas where most ignore and only the truly successful masters is financial management. To make you a cut above the rest, you need to be able to manage your finances properly. And here is one area which we can help you with.

As an aspiring business person, it will become your duty to keep your house in order, including sorting out your insurance needs. While risk-taking is common, managing an uninsured business is an unnecessary risk no entrepreneur has ever taken. In fact, during unforeseen events and circumstances, businesses turn to their insurance provider to bail them out thus not affecting their cash flow.

Product Liability
To protect you if your clients suffer personal injury or property damage arising from your business activities. In this instance, if you sell a defective product and the customer was to sustain injury as a result, this insurance would provide you with coverage in the event of a law suit.

Goods in Transit cover
To cover your goods from damage, theft or loss during transit. In this instance, it will cover your goods during delivery and unloading.

Public Liability
To protect you if members of the public suffer personal injury or property damage arising from your business activities. In this instance, if a person is injured on your premises as a result of an activity your business was conducting.

Employer’s Liability
To cover your legal liability in respect of accidental death or bodily injury to employees due to negligence. If your employee suffers an injury as a result of doing work for the business and the employee was not at fault, your business will likely face a law suit. Depending on the injury or if it resulted in death, the compensation can be costly.

Directors and Officers Liability
In this day and age, it is quite conceivable that directors and officers of your company may be sued for actions of the company that they authorise. This policy covers the cost of compensation paid under such a lawsuit.

For more information on your insurance needs as a retailer, visit us at our new office in town, call us on 429 5000 or send an email to info@sacos.sc

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