Can you believe 2015 is almost over? I don’t know about you, but this year flew by. With another year coming to an end, it’s time to start thinking about 2016 and how we can make it your best year yet. For small business owners, it’s the perfect time to plan annual goals, milestones, and even set some New Year’s resolutions.

According to Constant Contact, 53% of businesses make New Year’s resolutions, but only 33% say they are successful at keeping their resolutions. The good news is that most business owners believe that business-based resolutions are easier to keep than personal resolutions. So, what are most business resolutions related to?

·         26% are about increasing business revenue
·         18% are about running your business more efficiently
·         10% are about creating better planning
·         Surprisingly, only 1% is about being a better boss

Having an effective commercial insurance plan for your business in Ontario can help with these resolutions. Business insurance can help protect your revenue earnings, and help you operate and plan your business more effectively, knowing you have the insurance coverage you need for your business.

Business Insurance New Year’s Resolutions

When setting your business New Year’s resolutions this year, it’s a good idea to include some business insurance related resolutions to kick off the year the right way:

1.      Stop trying to be a jack of all trades: Many small business owners are guilty of trying to be a jack of all trades. They try to handle everything – running the business, administration, marketing, sales, and more. Let 2016 be the year where you hand over some of your business responsibilities to other trusted professionals. From an insurance standpoint, work with a commercial insurance broker in Toronto to ensure your business has the right level of insurance coverage.
 
2.      Make 2016 the year you actually get business insurance: Many start-ups overlook the importance of investing in a business insurance policy. As your business evolves, it’s vital to ensure you protect your investment in your business with proper business insurance. If you haven’t already, make 2016 the year where you get your business insurance in order.
 
3.      Actually review your policy before renewing: I get it – you are busy. It’s easier to simply renew your policy for another year. Did you know that failing to review your policy annually could be costing you money? You could be paying more for business insurance, and your policy could be misaligned with your business insurance needs. Take the time to review your policy when it comes up for renewal in 2016.
 
4.      Talk with a business insurance broker about your options: Business insurance brokers work for you, and our job is to help you save money and help you find a commercial insurance policy that meets all your business requirements. Make 2016 the year where you finally sit down with a broker to explore your insurance options. It will be time well spent.

Want to learn more about how I can help your business? Interested in a business insurance quote? Contact me anytime to set up an appointment. I look forward to helping you get your business insurance in order for 2016.