Description
Many small business owners aren’t aware of the importance of insuring themselves and their contribution to maintaining their business and income. This article explains Key Person insurance and includes a case study.
Introduction
Owners of very small businesses, also known as micro businesses, frequently fail to allow for the risks they face. The main reason most business owners would give for this oversight is they are just too busy working in the business to focus on what “might” happen.
But that really isn’t a good enough excuse. Owners of even the smallest businesses need to carry out a comprehensive risk assessment. This should include documenting as many conceivable events as possible, including but certainly not limited to:
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