Does Your Startup Need a Financial Advisor?

Starting a new business is always exciting. The economy is growing at a steady rate, which means your startup is enjoying more businesses and getting bigger by the day. At some point, however, you may need to start thinking about your startup’s finances and whether you need a financial advisor.

So, does your startup need a financial advisor? The answer is most definitely a big YES. We are going to take a look at how an experienced financial advisor can help your startup grow at a healthy rate and reach new heights.

Set Goals and Priorities

One of the first things a financial advisor can help your startup with is setting goals. Where do you see your business in five years’ time? Do you have plans to branch out to other industries? What will your investments focus on? These questions are often too difficult to answer yourself. To have a sound set of goals to aim for, talking to a financial advisor is the way to go.

5 Types of Insurance Small Business Owners Must Consider

Small businesses contribute greatly to a country’s economy. In the U.S., for instance, data from the U.S. Census Bureau showed that the number of small businesses has risen by 49 percent since 1982. Today, many individuals and groups continue to set up businesses targeting the local and international market.

Starting a business of any type requires the proper legal documents and insurance to ensure that everything is legitimate and your business is protected from various risks.

Being knowledgeable about the different types of insurance is a must. Here are 10 of them you need to consider regardless of the size of your business.

General Liability

A general liability insurance will protect your business whether you are operating a physical store or one based at home. This policy will provide coverage in the event your employees, products or services cause physical harm to a third party. It can also be applied to any property damage to a third party.

Property Insurance

Apart from your business and employees, you also need to protect your building and other property inside it. These include your computers, office equipment, tools and inventory which should be covered by a property insurance policy in the event of theft, fire and vandalism.