With small business boom, make sure you have the right insurance

This blog has previously discussed the difficulties that small to medium-sized businesses can face when it comes to recovering from disaster. Whether a cyber attack or natural disaster occurs, the financial setback can be immense and take time to overcome.

When building a business from scratch, having the right general business insurance policy is a necessity. Working with commercial insurance specialists can help owners find the best coverage options for their daily operations as well as unforeseen circumstances such as severe weather or vandalism.

Small and medium-sized business owners should not be deterred though - smaller companies are seeing success across the nation, according to a recent Entrepreneur article. The technology and business blog highlighted several organizations, explaining how startups have been seeing positive growth.

"These days, entrepreneurs in smaller cities across the U.S. have plenty of opportunity, thanks to advances in technology that weren't so readily available five years ago," the article said. "The proliferation of open-source tools and cloud computing has made it possible to start a fast-growth company from virtually anywhere."

Additionally, social media has been an immense help. Businesses can use Facebook and Twitter to reach out to prospective customers, or create a LinkedIn profile and connect to similar companies for advice on how best to expand.

For example, Cairn Cross, co-founder of a Vermont-based venture fund, explained to the news source that there used to be a popular bumper sticker which told individuals they either had to "moonlight or starve." Essentially, hopeful entrepreneurs needed to work two jobs in order to find success. However, that mindset is changing.

Even with some startup success, businesses need to have the right protections in place, otherwise one setback could force owners to shut their doors. Insurance coverages can be as unique as the company itself, individuals just need to take the time to find the right set of policies.

 

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