There are many decisions that come with starting a new business. One of the most important considerations may be how to structure it. Sole-proprietor? LLC? Corporation? The option that works best for you will depend upon the complexity you are looking for, the liability protections you need, and how you plan to run your business. The U.S. Small Business Administration has helpful information on its website, SBA.gov, that can help you wade through your options.
Regardless of the structure you choose, protecting yourself, your employees and your business will always be important. All types of companies are prone to risks from accidents, misunderstandings, and disasters. Business insurance policies help protect what you have built. Beyond Worker’s Compensation which is state-required if you have employees, policies such as commercial liability insurance, business umbrella insurance, and employee practice liability can provide the coverage you need to stay in business if the unexpected happens. The WIFS Team can help you decide which policies are best suited for your business structure and activities. Send us an email or give us a call at 317-663.4138.
