According to USA Today, only 20% of new businesses make it past their 1st year. If you’re considering a startup be sure to take a look at these 5 risks you take when starting your own small business. Then consider giving our agents at Trust Hall Insurance Services a call to make sure the risks you take are insured!
5 Risks for Starting Your Own Small Business
- Finacial Risks – Finding funds to start your business is going to be the first risk you take on. Getting a bank loan without a previous record of success is hard. Not to mention having savings to rely on in the first months of startup.
- Product Risks – Depending on your business you will need inventory and that inventory comes with its own set of risks. Where are you storing it? Does it have an expiration date?
- Team Risks – One day you might have a partner, maybe you will bring on employees. You may trust them with their life but people are human and humans make mistakes. Those mistakes could cost you your business.
- Market Risks – Markets come and go. Will your business stand up to change? How strong is the need for your product or service?
- Disability or Illness – Outside of business you are still living life. And unless you can live in a bubble there’s potential for disability or illness. Accidents happen and could leave you unable to run your business.
How can Trust Hall Insurance Services Help?
The hardest part about choosing the best coverage is researching all of the available options. At Trust Hall Insurance Services we do that for you!
While the cheapest insurance rate sounds great, our agents make sure you also consider the best coverages.
Every provider is different and our agents are equipped to show you exactly what coverages your business needs.
Review our business insurance coverages and talk to one of our agents today to see what is best for your business.