20% online discount for many SME insurance products
Even young start-ups sometimes encounter bad luck in their day-to-day work. And mistakes occasionally happen. To make sure this doesn’t mean the end of your self-employment, there’s start-up insurance from AXA. Find out from our insurance check how you can protect yourself against risks in the start-up phase, so that you can concentrate wholly on your opportunities.
Or would it be better to ask what types of insurance does your new business need? Insurance is taken out to cover you against anything that could throw you off course in your self-employment. This could be a fire in the warehouse or coffee on your company laptop – insurance offers protection against risks that could endanger your dream of running your own business.
Choosing insurance cover is not about being able to show that you have a certain number of policies. Instead you should think about which risks your young company faces. And what you would like to insure yourself against.
Only very few types of insurance are compulsory for start-ups and the self-employed, Most of these relate to coverage for employees. Business owners are free to choose any other kind of insurance cover. Rightly so, as this is how they keep a grip on the greatest risks to their business.
Liquidity gaps in the start-up phase are the most common reason for self-employment to fail. When money is scarce, the room to maneuver also dwindles. Loans continue to run, invoices have to be paid, debt enforcements pile up. Many start-ups and new companies have a limited financial buffer, so it's all the more important to insure yourself against the risk of a lack of liquidity. That’s fine - with the right planning.
If your business stops, it doesn’t earn any money. Insurance companies call this a break in earnings or interrupted productivity. These breaks are among the greatest risks for anyone who is newly self-employed, because if customers have to wait for your delivery or if contracts and agreements are not honored, this usually becomes expensive. We know a great deal about this. As Switzerland’s leading SME insurance company, we know what matters when start-ups falter: the ability to start again quickly.
Those becoming self-employed are faced with new questions and decisions on an almost daily basis, from funding and business model to accounting, partnership and new customer acquisition. How does that all work? As a new business owner, you can't know everything, certainly not at the beginning. But the lack of expertise can become a problem for the self-employed, as uncertainties are a distraction and take up valuable time, regardless of whether they concern legal provisions or the choice of the right legal form. The good news is that you don't have to know everything, but only who can advise you on your questions.
Visibility is an important success factor for your self-employment. Many young entrepreneurs underestimate how much work is needed to make others aware of their offer. That's a risk. You need new customers to establish yourself on the market, and you'll only find new customers if you're sufficiently visible. That's why whether it's through networking, online marketing, word of mouth, advertisements or viral posts on social media, you should give your new company the publicity it deserves. At the end of the day, you're good at what you do, and everyone should know about it.
The legal form of your company is crucial when choosing the right pension solution. Owners of sole proprietorships, general or limited partnerships are classified as self-employed. They can take out occupational benefits insurance, but are not obliged to do so. By contrast, owners of a company limited by shares (AG) or a limited liability company (GmbH) are classified as employees of their own company. They are subject to the OPA and are legally obliged to insure themselves and their employees through Pillar 2.
As the owner, you are classified as self-employed.
Find out more about pensions and self-employment in our blog entitled "Pensions for the self-employed: what do you really need?"
As the owner, you are classified as an employee of your own company.
Have you become self-employed in the past 12 months? Then you can take advantage of a 20% online discount on the first annual premium of your AXA property, liability, and cyber insurance as well as on the annual premium of your supplementary accident insurance during the initial contract term. The discount campaign runs until September 17, 2023, and can be extended by AXA after that. The discount cannot be paid out retroactively.
Things are easier with a strong partner by your side - we believe in your success and would like to support you as best we can on your journey to becoming an established business. AXA therefore offers new business owners access to exclusive tools, workshops and events, ranging from liquidity planning to networking events.
We're not just there for you if you have a claim - many of AXA's insurance and occupational benefits solutions include helpful additional services that help ease your day-to-day life as a start-up, from the employee benefits platform to free legal advice.
Social security insurance is compulsory. The various types protect Swiss residents against risks and secure their financial existence. Employees and the self-employed make financial contributions.
The legal form you choose determines which types of social insurance are compulsory for new businesses. The compensation offices, and in some cases the Swiss National Accident Insurance Fund (Suva), decide who qualifies as self-employed for the purposes of social insurance.
There are different types of social security insurance which include the following:
The most important types of business insurance for new companies include:
Depending on the type of company and sector, many self-employed also choose the following cover:
Self-employed people in Switzerland can’t register with the state unemployment insurance program, so they aren’t insured against unemployment.
Anyone registered as self-employed with the compensation office can withdraw occupational benefits for use as start-up capital. You can also withdraw tax-privileged capital saved in Pillar 3a to invest in your business. Such withdrawals are taxed at a special low rate.
Sole proprietors and partners in a general or limited partnership qualify as self-employed. You need to file your application within a year of becoming self-employed.
Owners of a company limited by shares (AG) or a limited liability company (GmbH) are classed as employees. They aren’t allowed to withdraw money from Pillar 2 or Pillar 3a for their business. This is why, in practice, many people first set up a sole proprietorship, which they then change into an AG or GmbH at a later date.
Property insurance usually covers existing facilities on a new-for-old basis. Ideally, you should work out the inventory’s current value.
You can take out business interruption insurance to cover the lost income and additional costs.
Whatever your company’s legal form, it’s important to ensure that your insurance solution suits your family’s needs. Self-employed people with no dependents can improve their risk coverage by paying into Pillars 3a and 3b. If you’re living with a partner and have children, you should also pay into an OPA pension as well as save capital in Pillar 3. This will allow you to maintain your whole family’s usual standard of living if you’re unfit for work due to sickness or an accident.
What do you need to bear in mind when starting out on your own? We have compiled the most important tasks and tips for you on setting up a company.
How much starting capital do I need to become self-employed? What ongoing costs can I expect? We answer the most important financial questions here on self-employment.
Becoming self-employed can lead to worries about long-term financial security. A Pillar 3a pension plan is a good way to dispel them.