Small businesses are the lifeblood of the U.S. economy: they create two-thirds of net new jobs and drive U.S. innovation and competitiveness. A new report shows that they account for 44 percent of U.S. economic activity1 and creating more than 11 million new jobs between 1993 and 20112. As a small business owner, you know how important your business is to your employees and your community. That’s why building protection into your business plan is one of the most important decisions you can make. Life insurance can help protect you and your partners and help ensure a smooth transition of ownership. It can also provide a way for employees to keep their families secure.
Here are some tips to protect your small business:
1 Small Business Office of Advocacy, Small Businesses Generate 44 Percent Of U.S. Economic Activity, January 2019, https://advocacy.sba.gov/2019/01/30/small-businesses-generate-44-percent-of-u-s-economic-activity/
2 Bureau of Labor Statistics, BED. For the latest employment statistics, see Small Business Office Advocacy’s quarterly reports, www.sba.gov/advocacy/10871