Research task 8

 Task 8: 


Britain's creative success is based on a combination of public and private investment – including vital government support for national cultural institutions, the BBC and the Arts Councils, along with the National Lottery and significant regional and local investments, which include Arts Council England and Creative England for businesses based in England.

Their are many types of different insurances in the creative industry. These include;

  • Professional Indemnity Insurance. PI is ideal for the creative industry and is specifically designed for any business offering professional services, designs or advice and will help protect you.
  • Employers Liability Insurance. As soon as you take on staff, whether they be permanent or part-time, freelance or working for you on a contract basis, you are legally required to have employer’s liability insurance (EL). EL will provide you with the cover you need if an employee has an injury at work. It will also help pay for your legal representation should a claim be brought against you.
  • Public Liability Insurance. I've mentioned this earlier in the post. 
  • Business Equipment Insurance. Most creative media businesses will use some forms of expensive technologies and other equipment such as furniture, but the creative industry is synonymous with using high-end technologies that most other industry sectors don’t need ie: photographic and film recording equipment can cost thousands of pounds per item. So it’s essential to protect your equipment in case of loss, breakage or theft.
  • Tax Enquiry & Legal Expenses Insurance. This policy is extensive in its coverage and provides a comprehensive level of insurance for most instances where legal costs and expenses are incurred.
  • Directors and Officers Liability (D&O). Many business founders of limited companies don’t realise that you can still personally face legal action, fines or prison sentences. You can also be disqualified from being a company director. D&O will help you with this and it will also show you take your responsibilities seriously to potential investors when they perform their due diligence on your company. Many founders of limited companies don’t realise that it’s not just their business at risk. Business owners can personally face legal action, disqualification, fines or even prison sentences. 
Source: https://www.caunceohara.co.uk/important-insurance-for-creative-media/

Considerations for home working: 

  • To be contactable at certain times.
  • Having an agreed timescale to inform the employer when the home worker is on holiday or absent ill.
  • To work certain hours.
  • To attend the workplace at certain times.
  • To be more formally supervised.
  • To keep a record of time keeping.
Working from home has many benefits. You can generally work when you like, I've mentioned above an agreed timetable but this wouldn't be your full contracted hours. As long as you get the work done, most creative employees don't mind employees working at home. With the Covid-19 pandemic going on at them moment, there are a lot of people who are working from home, which has seen many benefits. It is hard with most creative jobs to work completely from home, but it is absolutely possible to work from home most of the time.  

Business rates in England, or non-domestic rates, are a tax on the occupation of non-domestic property. Rates are a property tax with ancient roots that was formerly used to fund local services that was formalized with the Poor Law 1572 and superseded by the Poor Law of 1601.

Source: Wikipedia 

In a way it really does matter about your businesses location. Depending on what your business does. For example, if your business is just an accountancy firm it doesn't matter where that accountancy firm is based, because they have little to no business outside of the building. However, if your business does have interest outside of the building, for example a private film school (for filming purposes) it is beneficial to have a lot of film-able areas around your building. 

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