'What if': Why business protection advice is so important

'Advisers need to support their business owner clients'

clock • 4 min read

Naomi Greatorex explains to COVER's sister title, Professional Adviser, why advisers should up their game on business owner education to make them aware of the wide range of protection options available.

Moving into 2024 and reflecting on the protection advice I have given in 2023, I can see there has been a real increase in the number of small-to-medium enterprise (SME) businesses we have been speaking to. Advice to smaller business owners is vital. A recent government report showed the total SME employment in 2022 was 16.4 million (around 61% of all private sector jobs), so a huge portion of employment in the UK is reliant on small businesses. The report also detailed that gross lending (excluding overdrafts) to SMEs by all UK banks in 2022 was £65.1bn - up 12.8% from £57.7bn in 2...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Adviser / Broking

PDG launches Protection Insights Report 2026

PDG launches Protection Insights Report 2026

Underwriting, annual statements, market views

Cameron Roberts
clock 25 February 2026 • 2 min read
COVER Women in Protection and Health Awards 2026: Finalists announced

COVER Women in Protection and Health Awards 2026: Finalists announced

Recognising female excellence in protection and health

COVER
clock 25 February 2026 • 5 min read
Thameside Associates expands Stonebridge partnership

Thameside Associates expands Stonebridge partnership

Continues for 10 years

Cameron Roberts
clock 20 February 2026 • 1 min read