How to protect yourself and your small business

When a business becomes self-sustaining, owners don’t always think about protecting their personal assets from their business liabilities.

Running a small business can be a wonderful experience — as long as you do some careful planning in advance. (Photo: Shutterstock)

Many entrepreneurs start their small businesses at their kitchen tables or in their garages with limited funds. Often, they find it difficult to separate their personal and professional lives and their personal and professional financial assets. When the business gets big enough to be self-sustaining, the owners don’t always think about protecting their personal assets from their business liabilities. If you find yourself in this situation, what should you do?

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Rosalie Donlon

Rosalie Donlon is the editor in chief of ALM's insurance and tax publications, including NU Property & Casualty magazine and NU PropertyCasualty360.com. You can contact her at [email protected].

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