Congratulations on your start-up! Now, it is time for you to think about how to grow and further sustain it to keep the business rolling. Truth be told, there are many challenges that the economy and the global market face hence making it more challenging to keep the business afloat.
There are a lot of considerations when shopping for the right insurance for your small business. Among the many things you will need to look at are professional liability, health coverage, and even vehicle coverage. With so many types of insurance policies and packages, how do we choose the best fit for our business?
Workplace injuries can be quite complicated for small business owners. In the past when people tended to work for one company their entire careers it was easier to tell when an injury that occurred on the job was actually job related. With people moving in and out of jobs more today it can be a lot more complicated. Here’s 5 things business owners should know if they have an employee who suffers a workplace injury.
Have you heard of a business owners package insurance? It’s when insurance companies package several types of coverage together that are frequently needed by a business owner in a particular industry. Package policies can serve three purposes. They expand the coverage for risks specific types of small business owners may face. they make things easier and they usually result in a discount on your insurance cost.
1. General Liability Insurance
Every business, including home-based ones, should have liability insurance. It is the policy that provides both damages and defense if your products or employees cause damage to property or bodily injury to any third party.
The United States is home to millions of businesses. A huge percentage of these businesses are owned and operated independently. However, with every new business that opens their doors, another one may close its doors for good. What can be the reason for the high annual closure rate?
Business Owners Policy (BOP) is an insurance package aimed for small- to medium-sized businesses. It is a bundled policy offered for a low price. If your business has specific needs, there are optional coverages available.
So what does a typical BOP offer?
Did you ever lose a client without understanding why? While it may seem like it’s an overnight decision, that’s rarely the case. In fact, if you’ve given them enough attention, you’d know when they’re not pleased about something. How you might ask? By keeping a healthy relationship with your clients!
In October 2012, the entire nation watched as Superstorm Sandy devastated millions of lives and caused property damage to many of the businesses. Yet, for many of the storm’s victims, the nightmare didn’t end when the storm subsided. Additional headaches came when they learned that their commercial insurance didn’t cover some of the situations of the businesses.
To start a business, you need capital. More often than not, what you have in your pocket might not be enough. The entrepreneur who’s starting a new venture may have to work out where to access sufficient funds. And the first thing that may come to mind is the bank.