

Posted by Todd Davison on
Purbeck Insurance Services urges SMEs to prepare for NIC Increase
January 2025: As the CBI sounds the alarm on an economic slowdown, Purbeck Insurance Services, the UK’s only provider of personal guarantee insurance to SME owners and directors, is arming SMEs with five practical tips to improve their financial stability to help mitigate the impact of increased NIC contributions from April 2025:
Easing the burden of the NIC Hike
Comments Todd Davison, Managing Director, Purbeck Insurance Services, “It is encouraging that the number of corporate insolvencies in 2024 was down 5% compared to 2023ii), but it’s what lies ahead that is really concerning small and medium sized businesses. Many SMEs are naturally worried about the impending cost increases and will be looking to make savings where they can. Rather than resorting to measures such as cutting staff though, firms can take proactive steps now to empower themselves and face the challenging times ahead with greater confidence.”
Please click the links below to view accompanying images which you are welcome to use:
Todd Davison, MD Purbeck Insurance Services.
For more information or to speak to one of our underwriters contact us today.