Insurance is shifting the risk to someone or something that is more likely to be able to handle the catastrophic event. People often insure their life through life insurance, their income through disability insurance, their business through business overhead insurance, etc.
Running or managing a business has a multitude of risks associated with it. Whether you're the founder or an employee, every business decision we make must be taken seriously to avoid unnecessary loss. In business, it's impossible to completely do away with risk, but there are ways to protect yourself, your business, and your employees. Protect Yourself This is more important for those who own their own business. While it may feel at times as though you and your business are one entity, legally and financially speaking, you are not. It is imperative that you have separate lines of credit for you [...]