How can small business best plan for the future? As recently featured in USA TODAY, Michael Barton, President of Allstate Business Insurance, sat down for a Question and Answer session on this important topic and shared his thoughts.
How can small business owners be planning for their future?
There are many resources developed to address the business issues that keep small business owners up at night. Small Business Connection and SCORE are great examples. They provide free access to expert advice, business mentoring and education. Using these tools can help you plan for potential pitfalls and “what if” scenarios.
How would you advise a small business to define and set themselves apart?
Understand your customers’ needs, know the value you bring them and deliver it consistently. You can only do that when you choose suppliers, vendors and advisors wisely. Surrounding yourself with people who can help address business issues outside your expertise allows you to focus on doing what you do best.
What is the biggest challenge facing small businesses today?
As consumers do more business online, cyber security is top of mind. Protecting personal information in the digital age is especially important to small business owners. The threat of compromised data is real and responding to breaches can be costly from both a financial and reputational perspective if left unplanned.
In what way has your industry helped small business operate?
Without the safety net of insurance, many owners are unable to open their small businesses and most can’t get back on their feet in the event of a loss. Insurance helps businesses owners protect against risk and life’s uncertainties so they can pursue their passion and continue to drive our economy.
For more information on how best to insure your business, go here.