1.6 million SMEs hit by key person absence

Yet majority do not protect themselves

Adam Saville
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1.6 million SMEs hit by key person absence

Just over 40% of SMEs think key person absence would severely impact their business, research reveals

Nearly three in 10 (27%) of small-to-medium enterprises (SMEs) surveyed by YouGov have witnessed a key person or employee miss work for a period of time - equating to 1.6 million businesses - research from Royal London has revealed. Despite this, more than 4.6 million SMEs (76% surveyed) do not have any key person insurance protection in place. The research also revealed that one in seven (16%) of all SMEs surveyed do not have any business protection in place at all. According to the survey,...

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