Many entrepreneurs are completely devoted to their company, and are forced to work long hours to keep the business running smoothly. Often, this means making certain sacrifices, such as working on the weekends or even cutting back on vacation time.
However, should business owners not have the right Arizona business insurance policy in place, company leaders could end up making even more sacrifices. Paying for damages out of pocket is costly, and can set entrepreneurs back further than they had originally anticipated. No owner wants to think about events like a natural disaster striking his or her organization, but without comprehensive coverage, a business' life could be short lived.
A recent survey from American Express further underscored how devoted small- to medium-sized company owners can be. According to the results, less than half (49 percent) of respondents said that they planned to take at least one full week off during the summer. This was a decrease from 54 percent in 2012, and a stark contrast to the 67 percent who planned a long vacation in 2006.
Ed Jerdonek is the CEO of a Kentucky-based architectural and design firm, and he told the Associated Press that after five difficult years, his firm is finally picking up business.
While he used to plan vacations regularly, Jerdonek said that it's part of his responsibility as a leader to remain at the office and oversee projects.
"I'll get a vacation, but it won't be any time in the near future," he said.
Business owners in the Southwestern area of the United States likely have a similar mindset. But, outdated Arizona business insurance, or a complete lack thereof, could prove extremely detrimental. Working with commercial insurance specialists can help business leaders find the best coverage for their location and daily operations.