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Tradesfolk warned to take out insurance
August 19, 2008
Tradespeople across Reading are risking facing negligence claims against them and fines of up to £2,500 a day as research reveals one in five South East small businesses operates without any insurance.
The research, conducted by online small business insurance provider Insurantz.com, highlights the effects of the credit crunch on the construction market. Many tradespeople are being forced to seek out ad-hoc independent jobs.
Julia Evans, chief executive of the National Federation of Builders, said: “As conditions become increasingly tough for smaller firms, Reading business owners will naturally look to cut down on overheads. But operating without adequate insurance cover exposes you to far greater levels of risk than a downturn.”
