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Financial constraints are a significant challenge for small businesses in the U.S. and beyond. Those operating in the construction industry have it even rougher. This is mainly because most construction projects exceed the budget by 16 percent or more, per statistics. Therefore, small construction firms have lower chances of completing these projects due to inadequate funds. For this reason, the
Certain organizations must be insured and bonded as determined by the government. Bonds and insurance are separate financial vehicles but have overlapping functions. In many respects, bonds are a form of mandated insurance such as court-ordered bail bonds for criminal suspects. A bond is a guarantee to pay someone like an IOU. Here’s a closer look at bond insurance and
In order for your business to run smoothly, you will need to have several different policies in place to protect you from all the different types of risks you will be exposed to. Different types of businesses will deal with different types of risks. It will all depend on what types of products and services you offer to your clients.
Construction insurance is necessary if you plan on running a successful construction business. Accidents can happen at any time, irrespective of how hard you work to prevent them. Construction is a unique business and requires several different types of insurance policies to protect the owner from financial disaster adequately. You need to be able to defend yourself, your business, your
As the holiday season approaches, it is time for reflection. As you think about everything that has happened during the year, you also have to start planning and preparing for what lies ahead in the upcoming months. Y ou should start thinking about potential opportunities and new goals to keep you motivated. One thing that must be addressed before the
People are quick to offer insurance tips to home buyers who have just taken the giant leap into property ownership, which may cause the latter to feel like they are drowning in a sea of information. Homebuyers, especially first-time buyers, need guidance and advice from an insurance agent they can trust. While it’s easy to pick the first policy that