Risks Small Business Owners Face When Growing

small business owners looking over an ipad

Common obstacles to overcome as a small business owner.

Most small businesses expect to grow as their product or service takes off. With that growth, however, come risks. Growth can happen in more than one way, whether the business buys new equipment, hires an employee, or offers a new service. Take a look at the common risks the business owners face as they grow in different ways.

Hiring employees

You know that your team run your business. They are responsible for daily operations and bringing in new business. If you are looking to onboard a whole new team or even just one more person, you will need to review your workers’ compensation insurance. With more team members, the risk of accident and injury grows, which your business should be adequately protected from.

Selling a new product

When you are looking to sell new and different product, you will need to update the product liability insurance portion of your general liability insurance. This is the part of the policy that offers protection if a product injures a customer in some way.

Buying new equipment or furniture

When your business is doing well, you may want to revamp your office or install new equipment to streamline processes. If those items are valuable, business owners should verify that their business owners’ policy or commercial property insurance policy has adequate limits to cover them.

Be sure you have the right insurance in hand to protect your small and growing business. Contact the professionals at Lloyd S. Berkett Insurance Agency for quality business insurance. We serve Los Angeles, CA and surrounding cities with reliable coverage.

Lloyd Berkett Insurance

11150 W. Olympic Blvd.
Suite 610
Los Angeles, CA 90064

(310) 857-5757
(800) BERKETT | 237-5388
Fax: (310) 857-5750

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The Lloyd S. Berkett Insurance Agency, Inc. was founded in 1946 by Lloyd S. Berkett. Regarded as one of Southern California’s most successful, well-respected and innovative independent insurance agencies, ... Read More

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