Global warming not on the radar as cash flow is the real threat hanging over small business owners

Loss of income and customers not paying are the biggest threats to small and medium businesses in the UK according to a survey from BarclaysInsur Business Insurance.

These financial worries pose a bigger threat in the eyes of small business owners than the issues of the day such as terrorism or global warming, despite the recent rising menace of both.

Over a third of small businesses rank cash flow problems because of creditors not paying or a threat to income as a big worry for their company.

Even seemingly simple problems like a computer not working or the company van breaking down worry small business owners far more than the effects of terrorism on a business or the consequences of global warming such as flooding and storm damage.

The survey also revealed that other concerns for small business owners include being burgled, sued or held responsible for personal injuries to employees or visitors to their premises.

However it seems that business owners have good grounds for their concerns as it emerges that over a half have suffered from customers not paying, with equipment, IT and vehicle breakdowns also frequent occurrences.

Despite this, many businesses still have little more than public liability and basic insurance to protect them and their company.

Mark Till, Marketing Director for Barclays Business Insurance, said: "Life is full of twists and turns and running a business is no different".

"There are always going to be things that happen that you can't fully prepare for but many of the issues that cause the most worry can be covered by insurance, often at relatively low cost".

""The small business insurance Barclays has launched covers a range of things from burglary and weather damage through to legal expenses cover for debt disputes with customers, all in simple packages that are easy to take out".

""With over one in seven business owners closing their business at some point because of one of these threats - on average for 13 weeks at a time - basic insurance is an essential rather than optional extra." Barclays small and medium business insurance offers bespoke comprehensive cover for a range of business types.

For advice and a quote contact 0800 051 2790 or visit www.barclays.co.uk/businessinsurance.

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