When designing a business it is critical that all aspects of the business be addressed. It will not work to concentrate on sales or production or any other part of the business and ignore other parts. So, what are all these other parts that you should address?
Warning! Contrary to some people's thinking, just filing Articles of Incorporation or Articles of Organization and receiving your Certificate of Authority as a corporation or limited liability company, does not make your business an operating entity
Risk management covers a wide range of business functions including; business legal entity selection and maintenance, insurable areas, safety management, financial accuracy and theft protection, employee actions, and more
The fact that your business is a limited liability entity helps manage risk to other assets but does not relieve you from certain legal insurance requirements. The following insurances represent the basic types of insurance required.