Six Things That Can Stop Your Business in its Tracks

Six Things That Can Stop Your Business in its Tracks

Starting a business certainly has its competitive aspects to it. You are taking on the competition and seeking to gain market share. You may want to be the leader in price, service, or convenience. But there are also defensive aspects to running a business. Here are six things that could stop your business in its tracks.

Poor Accounting and Bookkeeping

Far too many businesses fail due to poor, incomplete, or incompetent bookkeeping. Good accounting doesn’t color the facts, it presents them accurately. If you can’t pay employees, vendors, or taxes, you will be out of business quickly.

Lack of Funding

Small, underfunded businesses are starting with one hand tied behind their backs. Before launching a business, it is prudent to have appropriate funding in place to allow your business time to grow.

An Unrelenting Competitor

A well-funded competitor who markets their products and services effectively can hamper your chances for success. That is why some entrepreneurs choose business categories where competition is weak.

Poor or Insufficient Marketing

You could have a terrific product or service, but if no one is aware of it, it has little chance of success. That is why advertising and marketing are such a critical part of starting a new business.

Fire, Theft, Vandalism, or a Liability Claim

Many small businesses are ill prepared to survive damage from a natural disaster or vandalism. Theft and embezzlement are one of the leading causes of bankruptcy. A customer or potential client could suffer a slip and fall on your property. Any of these could stop your business in its tracks unless you have business insurance.

Inadequate Business Insurance

Business insurance can protect your business financially from theft, fire, vandalism, loss of income, and even liability claims. This is why even start-ups should quickly investigate business insurance. We can help.

We insure businesses in a wide variety of categories and of all sizes. Let’s discuss your business, your risks, and how business insurance can help. Contact us today.


Do you have questions about your insurance? Find an insurance agent near you with our Agent Finder

Search All Blogs

Generic filters

Buzz Your
Insurance Agent

Search for a local agent with our agent finder map.

Agent Finder

Want to learn more about our blog writer?

Read more about KayLynn's background.

Click Here

Search All Blogs

Generic filters

Read More Blogs

More Than Just a Car: The Joys and Benefits of Owning a Classic Vehicle

Thinking of buying a classic car? Discover why it can be a great investment and a fulfilling hobby.

Flood Insurance 101: Separating Fact from Fiction

Don’t get caught unprepared. This guide answers your top questions about flood insurance.

Decoding the Past: The Origins Behind Common and Curious Sayings

Unlock the hidden stories behind everyday phrases and discover the surprising origins of familiar sayings.

Essential Foundations: Five Things Your Small Business Needs Today

Setting up for success? Here are five non-negotiable elements for your modern small business.

Confronting Your Fears: Practical Steps Towards a Fearless Life

Tired of being held back by fear? Discover actionable techniques to confront and conquer your anxieties.

Lending Your Keys: The Hidden Risks of Borrowing Your Car

Borrowing your car? Understand the hidden insurance implications before you say yes.

The Shifting Sands of Homeownership: What Happened to the Starter Home?

The starter home is fading away. Discover the factors reshaping the first-time homebuyer’s journey.

Six Men Who Captured Hearts: Universally Loved Figures in American Culture

Explore six beloved men in American popular culture.

The Uninsured Gap: Why Small Businesses Are Missing Crucial Protection

Why small businesses need more insurance.

Beyond “How Was Your Day?”: Engaging Your Kids with Deeper Questions

Get your kids talking with these open-ended questions.