• Professional indemnity insurance - covers damages you may cause as
an effect of your business
• Insurance against loss by fire, theft and water damage
• Consequential loss insurance covers the profit loss resulting from long
term business interruption
• Project insurance - dedicated to one individual large-scale construction
project
• Transport insurance- companies with large freight needs should take
out proper insurance

You could contact insurance consultancies specialised in business
consulting that can help you find the best possible coverage at the lowest
cost. Some consultancies are definitely serious, but, like within other
trades, also here you risk running into some who are not.

Another solution is to ask your accountant. Only a few accountants are
insurance experts, however, most are fairly experienced in the field.

Localisation
Where would be the appropriate place to locate your business? Many
factors have to be taken into consideration, e.g.:

• Close to home
• At home
• Access to fast internet broadband
• Close to shopping centre or public transport
• Access to well educated staff
• Access to unskilled workers
• Close to airport, highways or harbour
• Low crime
• Close to market
• Other

Business partners /consultants
Being the owner of your own small company can be very lonesome. If you
were one of the staff you would have had colleagues. But you are the
owner.

You have a totally different role than the rest. No one comes an tell you that
you have done a good work. Or tell you if something is terribly wrong in the
way you do things. Therefor it can be an idea to find persons, who you can
consult to discuss more personal issues and the business at a strategic
level.

Who will be your strategic partner?


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