Thimble is business insurance. You can purchase the most common kinds of business insurance, general liability and commercial property, from Thimble. Thimble insurance can be purchased by the hour, day, week, month, or year, making it perfect for anyone who does not need ongoing insurance for their business.
A business bank account doesn’t have to cost you anything. You can find online accounts for your business that have $0 minimum deposits, $0 monthly fees, and $0 minimum balance requirements.
Business property insurance usually covers some but not all natural disasters. Certain types of natural disasters are almost always excluded from standard policies, including hurricanes, floods, earthquakes, and volcanic eruptions. If you live in an area that’s vulnerable to those types of disasters, speak with your insurance provider to learn your options.
FDIC insurance is a government-run insurance program. The Federal Deposit Insurance Corporation protects deposits made with regulated institutions such as banks. In the unlikely event that your bank goes out of business, the government will step in and make sure that none of the bank’s customers lose their money.
The most important kind of insurance for most small businesses is general liability insurance. Commercial property insurance is also important. You may be able to combine these two types of coverage into one policy, known as a business owner’s policy or BOP that lets you obtain coverage at a discount.
Most commercial renters insurance will cover damages to your business inventory, computers and electronic equipments, furnishings, and damages to the building caused by your business operations. Personal property is generally not covered. Damage from natural disasters or from faulty utilities may not be covered.
You’ll need to download a free Shopify app, called Digital Downloads, if you want to sell virtual products on Shopify. You can also choose from hundreds of free and paid third-party apps. To enable digital product sales, you will need to add your products and then disable shipping on each listing.
You may find it easiest to set up a full store using a hosted platform like Shopify, Shift4Shop, or BigCommerce. Or you might do a better job of reaching customers with a combination of in-person and social selling, using tools available from Square, Lightspeed, and Helcim, among others.
Small business insurance isn’t the same for everyone. If you are self-employed, check out Hiscox or Next. If your business is large and complex, you should look at The Hartford or Nationwide.
Shopify vs. Lightspeed is an interesting comparison for anyone looking for an all-in-one small business selling solution. Both Lightspeed and Shopify offer support for online and in-person sales, with eCommerce capability and point of sale systems (POS) for in-person sales.
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