Starting a business is a big decision.
A well researched business plan will assist you in staring your business on the right path. You may wish to seek the advice of your accountant and attorney to cover your bases. Your accountant will be able to explain your financial requirements and tax implications. An attorney will assist you in setting up your business in the best manner possible. It is important to follow your professionals advice to ensure a successful beginning.
There are many responsibilities with owning a business.
Licensing, permits, cash flow and location all play an important part in your success. What most people may wait to consider is their commercial insurance needs. Some of the aspects concerning your insurance will be landlord requirements and any special endorsements needed. If you are a subcontractor, your General Contractor may require additional insured and waive of subrogation endorsements. The municipality or state you operate in will require specific insurance. As an example, you may need increased limits for workers compensation policy. Operating in multiple states will require an additional endorsement as well. Many of the insurance questions you have can be addressed by an independent insurance agency. An insurance agent can assist you with obtaining the proper coverage necessary to insure your business.
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