Jobs and Careers with James Caan 2012 - (Page 226)
Insurance
Protect
and prosper
Securing the right insurance cover for your business is essential for stability and peace of mind; we take a look at critical cover for you
IT CAN be easy, particularly for small startup businesses, to overlook the importance of securing the right insurance cover in the early stages, but it’s critical to ensure that you have protected your business, your employees – and yourself, of course. If your organisation is just starting up, not having the appropriate insurance could spell disaster before you’ve even set sail on your quest to entrepreneurship. There is an array of insurance cover and packages and not all are legally required (or relevant for that matter); so it’s definitely worth prioritising your business’ needs. Understanding the risks facing your business need not be as daunting as it may first appear. Once you’ve got to grips with the fundamentals of insurance policies, you can begin to integrate cover costs into your business plan. By doing this in the initial stages, it will save you any nasty surprises later on when there simply may not be the budget available. Remember: investors or lenders are much more likely to lend you money if you can demonstrate that you’re aware of the risks you could face in the future. Give yourself ample time to secure the right insurance. Rushing the process means you’ll lack the time necessary to shop around and get the best deal at the most reasonable cost. It’s worthwhile contacting several insurance companies at the beginning of your business set-up; they can provide you with all the relevant information about the risks you could confront which may well influence your choice of property when looking to rent or purchase something for commercial purposes, for example.
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Your busIness with James Caan
Table of Contents for the Digital Edition of Jobs and Careers with James Caan 2012