Insurance

1. How do I register my company?

The type of insurance you require is determined by your business and needs. It is important to remember that your home insurance is not valid for your business. Most insurance companies have designed packages for new business starts and small enterprises. Contact insurance companies, insurance brokers or banks for more information. If you belong to an industry association, there may be special insurance offers for members.

2. How do I insure my employees?

Your employer contribution includes basic insurance cover for your employees.

If you are bound by a collective or tie-in agreement, you must take out collectively agreed insurance for your employees. This type of insurance is centrally negotiated between employers' and employees' organisations.

Even if you are not bound by a collective or tie-in agreement, you may still take out collectively agreed or similar insurance for your employees.

3. How do I insure myself as an entrepreneur?

As your social security cover is based on your income, you should always check what applies in your particular case. Contact the Swedish Tax Agency and the Social Insurance Agency, for example. Join an unemployment insurance fund. This will give you some protection if the company does not develop according to plan.

Consider the following types of insurance:

• Pension insurance or private pension saving. There are a large number of insurance companies, insurance brokers and banks. Search the Internet or telephone directory.
• Accident insurance.
• Insurance for business interruption due to sickness. In the event of sickness, you can obtain compensation for fixed costs.
• You can also take out insurance to increase your sickness benefit and to cover the cost of medical care and substitutes.
• Third-party insurance.

4. What happens if I fall ill?

Your sickness benefit and parental benefit are based on your sickness benefit generating income. This in turn is based on your estimated profit or salary in your company. The method used to calculate sickness benefit generating income varies according to the legal form of your business.

5. What happens if I become unemployed?

As an entrepreneur, you are entitled to compensation from unemployment insurance if you liquidate your company and cease all personal involvement in the company. It is also possible to suspend trading on a temporary basis, provided the interruption is not of a seasonal character. You are not allowed to engage in any business activity during the suspension of trading. The entitlement to compensation during the temporary suspension of trading applies once per business activity and person.

6. What unemployment insurance funds are available for entrepreneurs?

You can find out from the Swedish Federation of Unemployment Insurance Funds (SO) what unemployment insurance fund you belong to.

7. What happens about my pension?

For sole traders and partnerships, the income pension is based on the declared income for the company. For limited companies and economic associations, the future pension is based on the salary Other types of compensation (such as sickness, parental and unemployment benefit) also count as pensionable income.

8. What do social security contributions give me as an entrepreneur?

Under Swedish law, an entrepreneur pays social security contributions - either as employer contributions or personal contributions. The contributions are administered by the Swedish Tax Agency and provide basic protection, which includes sickness benefit and retirement pension.

9. Does my income affect my protection as an entrepreneur?

Yes. Low income over a long period has an effect on your protection.

10. Can I receive compensation from unemployment insurance and start a business at the same time?

No. You are not allowed to start a company and receive compensation from unemployment insurance at the same time. However, it may be possible to obtain a business start-up grant corresponding to unemployment insurance payments if you are unemployed (or at risk of becoming unemployed) and want to start a business.