Business Protection for Small Companies

Why Business Protection Isn’t Just for Big Companies

When it comes to business protection, one of the most common misconceptions we hear is:

“Business protection is only for large companies.”

It’s easy to see why. Big firms have entire HR departments, legal teams and dedicated budgets for all kinds of insurances. Small business owners, on the other hand, are often wearing several hats—juggling strategy, operations and sales while also trying to stay on top of tax and compliance.

But here’s the truth: smaller businesses are often at greater risk when something goes wrong.

Why Size Doesn’t Equal Safety

If a large company loses a key member of staff, there are usually systems and people in place to absorb the shock. But for a smaller company—where a founder, lead technician or top sales director may be irreplaceable in the short term—the loss can stop everything in its tracks.

Imagine if:

• Your most valuable employee became seriously ill or passed away
• A co-owner unexpectedly died and their shares passed to a family member
• You or your fellow director couldn’t work due to illness or injury

Would your business survive the disruption? Would profits take a hit? Would the business even continue?

These aren’t scare tactics—they’re real-life risks that small businesses face every day.

What Does Business Protection Actually Cover?

Business Protection is an umbrella term for a suite of insurance solutions that protect the people who drive your business. These include:

• Shareholder Protection – to ensure surviving partners can retain control of the business.
• Key Person Insurance – to cover lost profits or recruitment costs if a key staff member dies or becomes seriously ill.
• Liability Insurance – to cover commercial mortgages, debt or a Director’s Loan Account
• Relevant Life Plans – a tax-efficient way to provide personal life cover through the company.
• Executive Income Protection – to protect your income if you can’t work due to illness.

Each of these products can be tailored to your business size, structure, and budget. And they’re not just for corporations with hundreds of employees—they’re often more important for firms with just two or three.

Why This Matters for Small Business Owners

According to research by Legal & General, 69% of business owners had never heard of Relevant Life Plans, and many mistakenly believe they’re too small to qualify for protection like this.

In reality, small firms face higher risk concentration—where losing one person means losing a whole function. And without a plan in place, your company may face financial strain, operational chaos or even closure.

But there’s good news: business protection is affordable, flexible and can be highly tax-efficient when structured correctly.

Summary: Size Shouldn’t Determine Security

If you’ve built a profitable business—regardless of its size—it makes sense to protect it.

At Symmonds de Lacey, we specialise in helping business owners understand their risks and explore the options available to them. We’ll work with your accountant and any existing advisers to make sure your cover is not only appropriate but tax-smart and forward-looking.

Whether you’re a sole director or have a small team, it’s worth asking:

“If something happened to me or my key people—what would happen to the business?”

If the answer gives you pause, we’re here to help.

Ready to Take the First Step?

We offer a free Business Protection Risk Report to highlight any key gaps and show how you can protect your company’s future.

There’s no obligation, and no jargon—just clear advice to help you make confident decisions.

Symmonds de Lacey is a trading name of Easy Street Financial Services Limited, which is authorised and regulated by the Financial Conduct Authority.
Easy Street Financial Services Limited is registered in England and Wales (No. 6430453). Registered office: Basepoint, 377-399 London Road, Camberley, Surrey, GU15 3HL.

Information correct at time of writing – May 2025.