Steps to starting a small business successfully

The 11 Steps to Start your Small Business!

A woman holding an open sign

Starting a small business can seem overwhelming at first, but if you are reading this article, chances are you are brave enough to consider it or already have. Since small business make up 99.7 percent of the U.S. economy, according to the U.S. Small Business Administration, it seems like you aren’t the first and won’t be the last. But, if you have that entrepreneurial hunger, what you probably want to be is the best.

Whether you want to start a business with five employees or 300, the fundamental and basic steps are essentially the same. The SBA lays out the 10 steps to starting a business that might just be the beginning of a beautiful relationship between you and your dream.

  1. Write a business plan
  2. Get business assistance and training
  3. Choose a business location (We found a great list from CNN naming the 10 most entrepreneurial states in the US)
  4. Finance your business
  5. Determine the legal structure of your business
  6. Register a business name “doing business as”
  7. Get a tax identification number
  8. Register for state and local taxes
  9. Obtain business licenses and permits
  10. Understand employer responsibilities

Whether you’re starting a flower shop or an auto body repair shop, having the right insurance for your business and following these simple and fundamental steps is bound to set you up for success.

Business Auto Commercial Auto Insurance

Business Auto — Does Your Current Insurance Cover Your Hobby-Now-Turned-Business?

Commercial Auto Insurance

Once you find the perfect combination of doing what you love and making money, what else could you worry about? You have turned your hobby into a money-making business, and now life is good. What could go wrong?

It is important to remember that starting a new business is a whole new venture when it comes to the rules of insurance. If you have not had previous experience with running a business, it may come as a surprise that if you are using a vehicle for business, you may be required to hold a separate auto insurance policy.

The insurance professionals at Insurance Town and Country can help you navigate your way through these different policies as you begin to understand the unique needs of your business.

Generally speaking, commercial auto policies should be considered when a vehicle is the following:

• Belongs to a corporation/partnership and used for business purposes
• Driven by employees
• Used to haul heavy duty equipment
• Use for pizza delivery and paper routes
• Heavy enough to require state or federal filings

As a general rule of thumb, vehicles that are larger have the potential to cause more damage. It is important to remember this when you are using your vehicles to clear snow or deliver baked goods.

Better understanding your business’ needs will allow the folks at Insurance Town and Country to answer your questions as you chose a package that is best for you. Having the right commercial auto insurance policy will keep your services running as they should and provide some peace of mind.

Call Insurance Town & Country today and speak with one of our insurance professionals. We have offices in Denver (303–388-7216) and Castle Rock (303–688-1251). Call us today to schedule your consultation, and let us help you better understand your business!

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    Small Business Bond Solutions

    The agents at Insurance Town and Country are more than just insurance policy experts.  We offer a range of products and services to small businesses, including bonds.  Our clients have a multitude of small business bond choices to fit their needs and goals.  We also understand that choosing a bond that makes sense for your unique circumstance may be challenging.  Our Bond Specialists are trained to help walk business owners through their options and choose a bond that makes sense for their business.  If you are in need of any of the following bond solution services, contact us today at 303–388-7216 or Request a Free Quote Online.

    • Performance Bonds
    • Contractor’s Bonds
    • ERISA Bonds
    • Fiduciary Bonds
    • Sub-Division Bonds
    • Court Bonds
    • Conservator Bonds
    • Surety Bonds
    • Fidelity Bonds
    • Public Officials Bonds
    • Liquor Licenses

    Business Interruption Insurance: When Disaster Strikes

    You have a great business. You are meeting your customer and clients’ needs and operations are running smoothly. Then disaster strikes. Lighting hits your building and destroys one of your machines or a snowstorm collapses your ceiling. What do you do now? Your Business Owners’ Policy may take care of the damage, but what about all of the income that you lose by not being able to produce?

    The answer is Business Interruption Insurance or Business Income Insurance.
    These policies protect you from losing the revenue that you would have received if your business had not been forced to stop due to the disastrous event. It also covers Fixed Costs still incurred by the business, the expense of moving to a temporary location, reimbursement of reasonable expenses that allow your business to continue operating while repairs are being made (in addition to fixed costs), and Civil Authority Ingress/Egress (this includes government-mandated business closures that result in a direct loss of revenue, such as a curfew).

    A Business Interruption Insurance plan is not a stand-alone plan, it is added to a larger Business Owners’ Policy (BOP) to provide additional coverage. When you are speaking with an insurance agent about the necessary coverages for your exact business, Business Interruption Insurance is something that you should consider, especially if your business is in the manufacturing, construction, or sales industries.

    Don’t wait for a disaster to bring your business to a halt!  Contact us for a free quote or call us at 303–388-7216 and we will review what kind of coverage is necessary for your business.


    Commercial Auto Insurance: The Admiral of Your Fleet

    Like how an Admiral is depended to protect his fleet, Commercial Auto Insurance protects your company’s fleet in the case of an accident.  By insuring your vehicles, products, and employees with Commercial Auto Insurance, you prevent losing your hard-earned revenue due to an auto accident that causes property or vehicle damage, bodily injury, legal costs, and more.  If you have a mobile business, consider taking additional precaution with a custom plan that includes:

    • Bodily Injury Liability
    • Medical Payments
    • Personal Injury Protection (PIP) Coverage
    • Comprehensive Coverage
    • Collision Coverage
    • GAP Coverage
    • Uninsured and Underinsured Motorist Coverage

    Let Insurance Town and Country take the wheel and guide your company through the storm.  Give us a call at 303–388-7216 or request a free quote online, today!


    What is a BOP Insurance Policy?

    Business Owners Insurance
    or a Business Owners Policy (BOP) is a customized type of insurance policy that combines Property Insurance, Commercial General Liability Insurance, and Crime Insurance, as well as additional coverage types based on your needs, making it one of the most important decisions a business owner can make. As a small business ourselves, we at Insurance Town and Country understand how important and exciting owning your own business is to our clients, which is why we often recommend a BOP Policy to protect their business against:

    • Products and Completed Operations
    • Premises Liability
    • Premises Medical
    • Fire Legal Liability
    • Business Income Insurance
    • Building and Personal Property Protection
    • On-Site Equipment Insurance
    • Coverage for Inventory Loss
    • Crime Insurance

    Call us today at 303–388-7216 to learn more about BOP Policies and have one of our Professional Insurance Specialists customize a policy for your business or request a free quote online!