Life stage – young in business

You’re working hard to build your new business, and have secured some excellent clients. It’s time to start thinking about expanding and taking on extra staff. But with so much at stake, you know you’re going to need to protect yourself and your business.

Kate and Louise fall into this category – perhaps you do too. Here’s their story:

 

Fact file
Business owners Kate and Louise
Business occupation Event management
Business type Partnership
Income $120,000 (first six months)
Goal​ Manage large national events​

Kate and Louise met at uni. They did the same marketing papers, but it was a project managing a fictitious Christmas party that brought them together. While both graduated with straight A’s, they have different strengths − Kate’s the creative one and Louise has the business head.

After graduation, they both worked for event management companies before deciding to set up their own business. Seven months down the track, they’re still ironing out a few teething problems, however, they’ve got some great clients on board and have identified a business niche – product launches. The money’s rolling in.

Louise wants to protect this income, but she knows that it’s hard for a new business without any financial history to get income insurance. She was happy to discover Sovereign’s Start-Up Income Protection, which will provide a monthly benefit if either of them was unable to work because of sickness or injury.

Kate and Louise’s big goal is to manage a national event. They’re thinking the Rugby World Cup…you’ve gotta aim high!

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