Comprehension in regards to insurance for any small business is often perceived by owners as imperceptible and overpowering. With so many reservations as to what is really vital or what can be eliminated, it is critical that a business owner can trust their insurance agent in providing the appropriate coverage needed.
Regardless of what small business you are in, you should always have:
• Liability insurance
• Property insurance
• Workers compensation insurance.
If your business involves giving advice and using professional skills to aid your clients, then you might need professional liability coverage to protect you should your client claim that you have made a mistake in your advice or been negligent in your work and your client has suffered losses as a result.
Mistakes do happen, however careful you are, and sometimes clients can just look for someone to blame if things go wrong for them. If a client has lost money and thinks they can get it back by blaming someone else (i.e. you) then you may be faced with a claim for compensation through the courts.
One of the biggest hurdles for any business venture can be the thorny subject of
office space. As well as being a substantial cost, finding the right location and size
of office can also be problematical.
However, internet technology is allowing business owners to cut their costs
thanks to the ability to carry out office space comparison in much the same way
as comparing deals on broadband or mobile phones.
Most of us have heard of a tax write off or of writing off an expense, but what exactly does that mean? It does not mean that you get that good or service for free. Instead, it means that the value of that good or service is deducted from your taxable income.
People who own their own business will be able to advantage of many tax write offs. Any time that they purchase business equipment or pay for a service that relates to their business, they get to write off that expense.
The Toilet Paper Entrepreneur by Mike Michalowicz
I would have to say that The Toilet Paper Entrepreneur