It was with a heavy heart that I watched the disaster in Japan reveal the devastation that occurred as a result of a huge earthquake. Who knows how many small businesses have come to an end as a result?
While many of us will never experience a disaster such as that, there are many more potential disasters waiting in the wings for small businesses like ours. And any one of them can put you out of business.
Please enjoy this guest post from risk management consultant Brian Smith.
It’s a new year and that means small business owners need to think about renewing their commercial insurance. It may not be the sexiest thing on the “to do” list, but having the right coverage is often the difference between surviving a calamity and shuttering your doors.
Natural disasters, such as floods, fires and hurricanes are one thing to consider. On average, 25% of companies never re-open after a major disaster. Accidents, thefts and lawsuits also can damage a business. In the past 20 years, employee lawsuits have risen 400%, with the most common lawsuits occurring against businesses with 15 to 100 employees.
Looking ahead, and considering what coverage you need can be a daunting task. Here are just a few things you need to consider: [Read more...]
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What would you do if you turned on your computer and nothing happened?
If you had a reliable back up system, you’d breathe a sigh of relief, get a new computer and restore all your critical business files. If you didn’t have a good back up system, you’d — well — be in deep trouble and could be at risk of losing your entire business. [Read more...]
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