Many small business owners are so busy these days that they have little time to slow down and properly analyze their risks and business insurance needs. And it’s no wonder. Small businesses from Reading PA in Berks County, to Philadelphia, Allentown, Lancaster, and all across the nation drive a significant portion of the country’s economic growth. However, they tend to be lean, which means the typical small business owner is wearing many hats and putting in long hours. Many are too busy to take the time to properly analyze risks, and to obtain adequate insurance protection to address the risks of their growing businesses.
Statistics available from the US Small Business Administration (www.sba.gov) indicate that small businesses employ more private sector personnel than mid-sized and large businesses combined. In the US, small businesses are generally defined as manufacturing businesses with less than 250 employees, and non-manufacturing companies with under $7 million in annual receipts.
Small businesses are the engines of private sector economic growth, creating approximately 2/3 of new non-government jobs while generating over 40% of the private payroll in the US. Small businesses account for a similar proportion of total US high-tech jobs as well.
Regardless of how busy you may be, busyness is no excuse for ignoring risks that could sink your business. Here is a brief list of questions every business owner should answer as a first step in assessing risk and the need for stronger insurance protection:
Our staff can properly address these and other business insurance questions. We’re a Trusted Choice independent insurance agency. That means we offer a range of business insurance plans from competing insurance companies. We’re well positioned to find the right business insurance coverage at a significant savings.
Contact us today at 610-775-3848, or click to Contact Us online.