The Perfect Market To Start Your Business
According to reports about the growth of Arizona for the next ten years, as many as an additional one million new people will be moving to the Valley of the Sun. With that amount of new residents living in the Valley, there is going to be an enormous demand for additional products and services, which, in turn, means tremendous opportunities for new companies to spring up and be successful.
The Qualities Of A Business Owner
If you are one of the brave entrepreneurs who wants to fulfill that dream of being their own boss and forging their own path, we would like to welcome you to what we consider to be a very special club. Everyone knows that starting a new company is not for someone with a faint heart. Most entrepreneurs know it will consist of working long hours, taking risks, and having that “never give up” attitude, especially when things get tough. In other words, it takes a special kind of person to start their own company. It is truly remarkable how many new ideas there are out there for starting a new business venture.
Social Media And Business
Considering all the new avenues that are out there like the internet, Facebook, Instagram, Next Door, and so many other applications, in many cases, an office space or a storefront is not even needed. The vast majority of new start-ups begin in a home or garage. Think back just a mere twenty to thirty years ago, a time we now have difficulty even imagining: no smart phones, apps, social media, Zoom. I know what you are thinking, “how did we ever survive!”
Now think of all those companies that were launched in that period and all the incredible apps, services, and the most unique products in the world that came to market to make our lives so much fuller, allowing us to do things we never thought would be possible. Look at all the companies we now deal with everyday online – ordering everything for our homes, businesses, and even our pets without ever leaving the house. It has been such an unbelievable period for new ventures which makes one wonder what the next twenty years will bring.
For many of us, at one point or another, we have thought about being our own boss, developing either a new product or idea or starting a new venture because we believe that we can do it better and become the success we have always dreamed of. For that, we salute you! It is never an easy decision to start a new venture. Once you have thoroughly researched what type of business it is you wish to start, have written an incredible new business plan, secured any permits or licenses that may be required, secured enough funding, (please note this is an important part as there could be some rough patches, and you will need enough funds to get you through those tough times), now you are ready to launch your new venture.
Whether your new venture is that of a mobile application designer, software development, website design and hosting, delivery services, medical device products, health or dietary products, food or snack products, pet products, general contractor, trade contractor, spirits, wine or beer manufacturer or distributor, consultant, retail operations, real estate investor, home health care, product development, manufacturer, or distributor, or one of the thousands of different ventures you can choose from, there is one vital item that all new ventures will require which is an insurance coverage program designed for your particular venture keeping in mind to provide as much necessary coverage as it can.
Insuring Your Business
This is where PJO Insurance Brokerage can assist you with an overall insurance coverage program. Regarding most new start-ups, the first insurance coverage that you should look at securing is an Arizona General Liability Policy. While most new ventures realize the need for this type of insurance coverage, there are quite a few new start-up owners that believe that this type of insurance policy will cover all their risks, which, of course, it will not.
Now, if your new start-up is that of a Consultant, Architect, Engineer, Software Designer, Web Designer, Real Estate Appraiser, or one of the many businesses that provides professional advice or services, then Arizona Errors and Omission Insurance Coverage is also required for your new business venture.
A very popular area of start-ups is that of a product manufacturer, distributor, wholesaler, manufacturer’s rep or retail operation, and if this is going to be your area of business, you will need to make Product Liability Insurance in Arizona a major part of your insurance program. When your business is that of a product, regardless of what type of product it is, the chance of a lawsuit or claim being filed against your business is a real possibility in today’s business world, and it only makes great business sense to be properly protected.
Some additional coverages, depending on what type of start-up you are that you may want to explore include the following: Inland Marine Insurance, Property Insurance, Employment Practices Liability Insurance, Environmental Liability Insurance, Cyber Liability Insurance, Workers’ Compensation/Employers Liability Insurance, Commercial Automobile Insurance, Umbrella/Excess Liability Insurance, or one of the many other coverages that may be necessary for your start-up.
Contact A Business Insurance Brokerage
A good first step would be for you to consult with an Arizona business insurance agent, discuss in detail about how your start-up will operate, and then, with the assistance of an insurance professional, put together an insurance program to protect your new start-up. We, at PJO Insurance Brokerage, would welcome the opportunity to work with you on your insurance needs. Contact PJO Insurance Brokerage today to learn more.
PJO Insurance Brokerage – Patrick O’ Neill