Today is the age of the entrepreneur. Those entering the workforce no longer believe in the security of the large company and many are instead seeking ways to make it on their own by starting a small business. While this is a noble pursuit and can one day lead to a big payday, there are plenty of hurdles you need to clear in order to make it.
At Petruzelo Insurance we want to see you succeed with your business dream so we offer affordable small business insurance that will protect what matters. We also want to offer some tips for starting a small business that will help you get your idea off the ground.
Make your Business Legit: You don’t want to start off on the wrong foot so be sure to obtain the necessary federal tax identification numbers and find out if you need a state tax ID as well. Also check to see if the type of business you operate needs any specific licenses or permits. If you forgo these steps you may find your business closed before it even had a chance to open. Do your homework and get the facts about what you need to run your business legally.
Know your Industry: Everyone has grand ideas and creative thoughts on how to revolutionize an industry. But in order to change the game you first have to know the game. Start with a solid business plan that provides you with a blueprint you can work off. Not everyone can hit the lottery by accident the way Mark Zuckerberg did with Facebook. Even if your plan is radical, you still need to have one and operating without a business plan is a fast way to failure.
Insure your Business: Cutting corners, especially with insurance, is playing with fire. Before you open for business, sit down with your local insurance representative and discuss your needs so you get the right type and amount of insurance. From commercial liability and workers compensation to professional liability and business interruption, there are many types of insurance for a business and you need to ensure your business is covered for what is most important. Without the right insurance, you could be facing lawsuits that will put your business out of business.
Speak to an agent at Petruzelo Insurance today and get the facts you need to make the right decisions when it comes to small business insurance in Connecticut.