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

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

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].

Commercial Lines
Coverage & Policy Issues
Commercial Lines
Loss Control