Business Plan

When you are starting up a new business you will need to have a business plan. This outline of what you wish to achieve and how you will get there, is essential to your success. This plan will help promote growth, encourage loans, and give you a map to follow.

Some of the areas that you will need to consider will include your market, your competition, SWOT (Strength, Weakness, Opportunity and Threat) analysis, manpower and resources required to achieve your goals.

When planning your insurance your adviser will need to know the scope of your operation, to help you decide what is your greatest area of risk and which coverage to purchase, to protect you in case of a claim.

Be sure to keep your agent or broker up-to-date for changes to your operation. Items that would prompt a phone call include if you add equipment, hire employees or drivers of your vehicles, expand to a new location or reduce inventory. Keeping your insurance current will help protect you in case of a claim.