Insurance will help you protect your business from disasters: from employee mistakes to natural disasters. We will tell you what insurance companies can offer to entrepreneurs, according to the reviews on luminablog.
Why insure your business
Starting a business inevitably involves risks. Entrepreneurs, especially beginners, cannot always predict the consequences.
All risks can be divided into two groups: external and internal. Inventory management software is a very helpful tool when it comes to insurance. External risks have nothing to do with the company’s business processes. These include:
- the risks of increased competition;
- changes in the economic situation;
- man-made disasters;
- natural disasters;
- socio-political factors;
- changes in legislation.
How to choose insurance services
To understand which insurance products are right for a company, you need to answer three questions:
- What are the business risks?
- What is the probability that each of them will occur?
- What consequences will it have and what costs