Why Your Business Insurance Premium Went Up 60% (And What To Do)
Some Australian small business premiums are up 60% since 2019. Here is what is driving it, and what actually moves a premium at renewal.
Some Australian small business premiums are up 60% since 2019. Here is what is driving it, and what actually moves a premium at renewal.
More than half of Australian SME owners shop utilities annually — the one systematic cost behaviour in the market. Most still do it badly.
Most businesses accept supplier increases without a conversation. Here are the four leverage points you actually have, and the scripts to use them.
Small businesses received the largest Default Market Offer cut of any customer class. Most sit on a standing offer and will never see a cent of it.
Between 25 and 30% of software licences go unused. On a $50,000 software budget that is up to $15,000 a year, recoverable in an afternoon with a bank statement and a filter.
Australian business costs rose 24.6% since March 2020. This is what actually moved, by how much, and the order to attack it in — with the honest limits of cost-cutting.
On a $1m business at 10% net margin, a 5% price rise adds $50,000 to profit. A 10% cut to discretionary costs adds about $15,000. Same business, same year, three times the result.