| It is not easy, starting out as a small business | | | | property damages. If you have it, the whole |
| owner. There are many issues to be aware of; | | | | business of hiring a lawyer and paying for a court |
| not least how you spend whatever startup capital | | | | case will be covered. Even the seemingly most |
| you have at your disposal. It may be tempting to | | | | harmless business-person could cause damage to |
| spend it all on matters pertaining to your core | | | | a third party, so don't think, that just because |
| business. After all; you decided to start your own | | | | you make a living selling fluffy pillows and comfy |
| custom bike shop to build custom bikes - not to | | | | chairs, that your products couldn't hurt someone - |
| do paper work, right? However - even if you do | | | | or that this someone would not file a suit against |
| not set aside money for anything else; accounting, | | | | you! So if you build custom bikes for other |
| marketing, etc; please save a little money for one | | | | people, then what happens the day your |
| very important thing: Insurance. | | | | apprentice forgets to tighten that bolt, or didn't |
| Yes, commercial insurance is as vital to small | | | | connect the brake-light to the electrical system? |
| business owners, as it is to the big guns in your | | | | Trouble. Big trouble. |
| industry. After all, you too could someday | | | | Now, fortunately (or unfortunately, depending on |
| experience a fire in your staff room - or water | | | | your view) commercial liability insurance is required |
| damage from a leaking roof. It happens to | | | | by law in most places, so you have to have it. |
| everybody. Some people need to experience | | | | But then why wouldn't you? Sure, it can be quite |
| disaster firsthand to fully grasp how important | | | | an outlay - especially for someone setting up a |
| insurance can be, and how having it could have | | | | brand new business. You have all these expenses |
| saved them from, well, disaster. Don't be one of | | | | for real-estate, equipment, electricity, water, |
| those people. And even if you're still skeptical | | | | heating/cooling - and perhaps you don't yet have |
| about insuring your property, company car and | | | | enough clients to pay for all that. It is |
| heaven knows what else; there is one type of | | | | understandable if you are hesitant to shell out for |
| insurance you probably can't avoid no matter | | | | insurance too, but failing to do so could be a |
| what: Commercial liability insurance. | | | | major mistake. Commercial liability insurance is a |
| Commercial liability insurance is what protects you | | | | good thing to have and worth the money. |
| - in case someone sues you for personal or | | | | |