Location, location, location.
Many business owners are probably well-aware of the rules of real estate, which help dictate a company's success. But, what if factors beyond your control as an entrepreneur come into play, and you have little—if any—say about what happens to the business?
For example, severe weather could cause long-lasting damage to your company, especially if you lack comprehensive California business insurance. Or, vandalism could bring about the need for expensive repairs. Even if you have a majority of support in the community, it is sometimes not enough.
"Public perception and community support are huge—if you're perceived positively and have great relationships with both the landlord and the community, you probably won't be forced to move your business," Michael Sinensky, and East Coast business owner explained to Entrepreneur Magazine. "I think that's something that people don't generally focus on when they run a business; they just focus on running the business versus worrying about what the community thinks about you."
Running a business requires many scenarios to be thought of and planned for accordingly. Should an unexpected event occur, it is unlikely that you could pay for expenses out-of-pocket for an extended period of time. A recent article in The Financial cited data from the Small Business Administration, which said that 90 percent of new owners underestimate the cost of what it takes to open a company.
However, lacking the necessary commercial property insurance could also be detrimental to business leaders who have more longevity. Owners should not need to worry about the future of their organization. By investing in California business insurance, entrepreneurs can rest assured that their firm is protected in daily operations and for unexpected events.