Small business insurance
It’s no fun thinking about a cost like insurance when revenue hasn’t even started rolling in. But many lenders, and the government, require you to have some level of insurance.
Why it’s a good idea
The key to good planning is considering all possibilities, including the bad ones. Just as your forecasts will include worst-case scenarios, insurance is a chance to assess and cover your risks. Here are some small business insurance types that might be worth thinking about.
Don’t put off small business insurance
Small business insurance isn’t as much fun as naming your business or lining up your first customers – but make some time to think about it. Don’t go to a broker straight away. Speak to other business owners and an accountant first. They’ll have great practical advice to help you decide what you need.