STARTING A NEW BUSINESS?

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6 Reasons to Start Your Own Business

  1. Pursue your passion – love what you do!
  2. Turn your vision into reality
  3. Flexible working hours – work life balance
  4. Challenges – starting a business is never boring!
  5. Create jobs for others – help the economy
  6. Financial Independence – Maybe not right away!  It usually takes 3-5 years of really hard but rewarding work.

Thinking about starting your own business but not sure where to start?
Small Business Centres can provide you with the tools and resources you need to evaluate your idea and help you decide if entrepreneurship is right for you. They also provide a full range of support services, seminars, workshops and networking events.  Check out The Small Business Centre in London Ontario   http://www.sbcentre.ca/startup.php

 

There are at least 3 kinds of insurance you will need when starting a new business.

Liability Insurance – any entity can be sued.  Someone can claim that your product or service caused them harm.  Liability insurance provides financial & legal protection in the event where you are legally liable.

Property Insurance – your building, tools, contents can suffer a loss due to many perils such as fire, water damage or theft.   Property insurance can replace those items and get you back in business.

Commercial Auto Insurance – if you are using your vehicle in the course of your business, make sure you are covered properly.  Insurers can deny coverage if you are using your vehicle for business purposes and they haven’t been made aware and rated it accordingly.

 

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