As an aspiring business owner, be sure you’ve thought of everything before you launch your business. In one recent survey, 72% of small business owners indicated that they thought every small business should have small business insurance the moment it’s launched. Even before you launch your small business, however, you’ll want to start shopping for and purchase business insurance in Wantage, New Jersey. Here are some major reasons why.
Many new business owners balk at the idea of getting business insurance in place if their business operations take place at home. home-based businesses are a great way to go for many reasons but being able to forego business insurance is not one. Your homeowner’s policy doesn’t cover your business even if it’s a home-based business.
Even small risks can be expensive. Many business owners also make the mistake of thinking that because theirs is a small business, they don’t have major risks or the risks they do take don’t have large consequences. Every year, small businesses pay hundreds of billions of dollars in court costs. If your business is sued by an unsatisfied customer or client, you could start hemorrhaging your precious resources before you know it.
Buying the right business insurance in Wantage, New Jersey is a great way to set up your future small business for success. Be aware that the best time to purchase this essential coverage is before your business ever makes it off the ground.