Running a business, finding contracts, taking care of employees, it's no mean feat.

What can you do to make sure that all that hard work doesn't go to waste, for example because of illness, injury or accident, if you can't work for a while or have an open shop? And how to ensure a decent pension once you've hung up your business? We've compiled a list of solutions that every entrepreneur should at least consider. They can help keep you out of big financial trouble.

Liability insurance
As an entrepreneur, you can usually cause even more damage to others' health and property than in everyday life, and sole proprietors are liable for their claims with all of their assets. Millions in damages can ruin you. But you can get liability insurance so that the policy covers the biggest risks to your business.

Business interruption and property insurance
If, for example, a fire destroys your business or illness prevents you from working, you have to keep paying your bills. This supplemental insurance can help you replace lost income and pay for necessary expenses until you get back on your feet. It's also worth insuring the business itself or the equipment you use, in case the elements damage it or you get robbed.

Don't rely on the state when illness or injury strikes
Life insurance should be a staple for entrepreneurs. Unlike employees, they cannot rely on help from their employer or the state in the event of a serious illness or injury. Add to that the stress, the high strain and the many risks of manual work and you have several reasons to have a good insurance policy to back you up when you no longer want to or can dip into your own savings.

Insure yourself for old age
Many entrepreneurs are in for an unpleasant surprise when they find out how low their retirement pension will be. Supplementary pension saving is a way to start building up another source of funds to add to your normal pension in retirement. In addition, a 'pension' can also allow you to retire earlier, which can be useful for people who work hard at manual labour. Supplementary pension savings and life insurance are also welcome employee benefits.

Save on car insurance
If you use a car, or even a fleet of cars, for business, you can save considerable sums by setting up compulsory third party and breakdown cover appropriately.
Business insurance, and choosing a retirement savings plan, is not a simple matter and there are many variables to consider. Working with a quality financial advisor is essential to success and setting these products up to really help you when you need it. Translated with www.DeepL.com/Translator (free version)