Business Budgeting: The Most Essential Components
Every business, no matter the size, needs to budget. This plan not only accounts for regular expenses but covers and funds current and future goals, all with the purpose of returning a profit. In the process, any income must align with your company’s plan and provide enough for emergencies and other challenges you haven’t anticipated….
What Am I Getting? Understanding Coverage for a Business Owners Policy (BOP)
Recommended for small- and medium-sized businesses, a business owners policy, or BOP for short, is a deal in itself. Policies cover multiple insurances a company needs at this size while offering a lower premium. Businesses, especially in the early stages, aim to cut costs while following recommended industry and legal practices. When your company has…
3 Essential Reasons a Small Business Needs Insurance
Whether you’re an experienced business owner, or just starting out, one factor becomes immediately apparent: Your company requires insurance. You may think, “I can get along without this expense,” but can you? Insurance might appear like a superfluous cost, one hindering your profits, but policies serve multiple purposes. One, they protect your investment – your…
What is a Buy-Sell Agreement, and should I have one?
Every business owner should ask themselves one vital question. How will our company continue to move forward in the event of a death, disability, or departure of one of the business owners? Like a will, a Buy-Sell Agreement spells out how assets and other business interests will be dispersed should an owner quit, become disabled,…
Business Owners Policy – Is Your Business Eligible?
A business owner’s policy, or BOP, is a type of pre-packaged insurance designed for certain types of small-business owners. The BOP allows business owners to save on liability insurance costs by bundling multiple insurance policies together for a single affordable premium. The BOP includes: Commercial General Liability coverage (protection from claims of property damage and…
