A useful entrepreneurship tidbit to know: Across the United States, independent business growth is in a good place. From the 2017 Kauffman Index of Startup Activity:

“In 2013 the Startup Activity Index was at its lowest point in the last 20 years. Today it has gone up three years in a row, reaching close to the peak before the Great Recession drop.”

As an independent insurance agent/small businessperson, that’s a factoid I’m happy to see. Unfortunately, here at home in Nashville, figures are a little less sunny.

Nashville, disappointingly, was on a downswing in Kauffman’s Metro Rankings, dropping from from a city rank of 16 in 2016 to 29 in 2017. We were one of the biggest drops among the cities cited.

I certainly can’t pinpoint what’s making the startup rate in Nashville stall, but I do know one thing:

Starting a business is difficult, and complicated, with a grab bag of different pieces that need to be in place for things to start, stabilize, grow and thrive.

Having the right small business insurance in place is, to me, one of the most important parts of entrepreneurial housekeeping. Unexpected things come up with every small business, in every city. And being adequately protected — between equipment, lost business, liability and more — can be the difference between being a success story and a disappointing statistic.

Small business insurance, specific to your business’ needs

I also know that making sure you’re getting the right small business insurance policy can feel like a slog. Insurance intricacies don’t necessarily come naturally to all entrepreneurs.

But a good thing, I think, about this industry: Insurance companies make a point of aligning and shaping small business policies to specifically suit a wide mix of small businesses.

Here’s what I mean:

On the broad end, small business owners will/should seek out a businessowners policy (or BOP). These combine property insurance, liability and other insurance needs. But “other needs” are going to vary widely based on your specific business.

If you run a mobile pet grooming business, you’re protecting against loss of business from your vehicle breaking down, the possibility of employees getting bit.

If you’re an electrical contractor, you’re exposed to electrocution, falling from ladders. A craft brewery owner has to worry about contamination, product recalls.

Being adequately braced against the pitfalls particular to your industry and your business is important. So I think it’s good to know that you can find insurers who have policies that are honed for you.

Examples from a few of the companies I work with:

— Craft Breweries Insurance from Travelers

— Art Dealers/Galleries/Museum Insurance from Travelers

— Technology Industry Insurance from Travelers

— Cafe Insurance From Nationwide

— Professional photographers insurance from Nationwide

— Real Estate Business Insurance from Nationwide

The last thing a small business owner or entrepreneur needs, when they’re taking on the daunting task of building a brand from the ground up, is to get sidelined by an event they’re not protected against.

I’m on that same path, devoted to building my business, so it’s important to me to help other small business owners in Nashville. If I can help you explore your BOP options to find coverage that fits your business specifically, please reach out and let me know.

Another easy way to get started: You can grab an online small business insurance quote here.

Anything else insurance-related you’d like to see me discuss here on the Tucker Coverage blog? I’m always eager for feedback.