OSHA and Safety Requirements for the Cannabis IndustrySmall businesses have an enormous impact on the American economy. In fact, the U.S. Small Business Administration (SBA) says that there are 32.5 million small businesses in the U.S., and these small businesses employ 61.2 million workers or 46.8% of all U.S. employees.
From restaurants to tech startups, and from retailers to professional services, small businesses are the heart of our communities. We depend on them for our goods, our services, and our jobs. That means it’s in everyone’s best interest to help small businesses succeed.
Small Business Saturday lands on November 27 this year, and it’s the perfect time to show support for small businesses.
Optimism + Pragmatism = Winning Formula
If you’re a small-business owner, you’ve already shown that you have a courageous and optimistic spirit. That’s great! By also understanding the risks and operating pragmatically, you can succeed where many others have failed.
Some businesses fail due to problems associated with marketing, demand, and overhead costs, but many other businesses fail because of outside forces. Many do not have the right insurance to help them recover from losses.
FEMA says that about 25% of businesses never reopen after a disaster. Lawsuits are another frequent problem. According to Small Biz Daily, one study found that 43% of small businesses have been at least threatened with a lawsuit.
Take Initiative to Protect Your Investment
While you are gearing up for Small Business Saturday and a bustling holiday season, it’s important to also be proactive about protecting your business against lawsuits, property damage, business interruption, and other threats. After all, you’ve invested too much to leave your future to chance!
A business owner’s policy (BOP) is a good place to start. This insurance package bundles many of the coverage types that small businesses need, often including property, liability, and business interruption insurance.
Depending on the type of business you run and the risks you face, you may need additional insurance coverage types beyond the ones listed here. An insurance broker can help you assess your coverage needs.
Heffernan Is Your Partner for Small Business Success
Heffernan Insurance Brokers is the go-to source for insurance for small businesses. We work with businesses of all types and sizes, from sole proprietors working from home to fast-growing companies with ever-changing needs.
Our small-business division is part of our overall commitment to serving the insurance needs of companies of all sizes. Although we have grown into a $100 million company over the past four decades, we always remember that small business drives our economy, as well as our own success.
Contact our Small Business Insurance team for a review of your insurance program. We welcome the opportunity to support your growth.
