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FINANCIAL RESEARCH

YEARLY PLAN OF ACTION
- First year architectural elements and modular adaptations of pre-existing structures
- Second year full re purpose of existing building industrial to residential
- Third year expanding on the second year and growing further


To absorb the initial costs of machinery and operating costs of the startup firm in the first few months, focus on bespoke one-off elemental projects such as staircases that will provide higher revenues.

 

PIP INSURANCE

Professional Indemnity Insurance protects professional businesses against their legal liability towards third parties for financial compensation arising from their professional negligence or that of their employees or sub-consultants.
Professional Indemnity Insurance arranged by third party companies can protect your business from financially crippling and often reputation-damaging claims by dissatisfied clients. Even the most respectable companies can find themselves in dispute with a client over a mistake.
Professional Indemnity Insurance works in several ways. It will cover you if you make a mistake in the professional services you have provided should this lead to a dispute with a client. If the dispute becomes complicated, your insurer could defend your claim – right through to the High Court, if necessary. If you lose, the policy will cover you for any damages you then become liable for, subject to the level of cover
It will also cover the cost of rectifying any mistake on your part, which will potentially help you avoid a larger claim being made.
When deciding on the amount of Professional Indemnity cover to have you should consider the value of the work you are doing for your clients and the potential financial impact on them should it go wrong.
Average Cost for PIP insurance for Small to medium firms – range of 30 – 80 GBP per month

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Proceeded cost for PIP insurance.

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COMMENTS

EYOB MULAT: This is some good research that can inform how we do our business plan policies and what we plan in for the future of the business if something goes wrong.

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