Small Business Saturday: How to Survive and Thrive in COVID Times


Small business. Saturday is quickly approaching. He'll probably look a little bit different than last year. Here with the vice and i take advantage of holiday. Season is chip haman. Who's the deputy president small commercial of the hanover. Insurance group chip. Welcome back to the show. Thank you. It's good to be here so everyone's excited about the holiday season but it's gonna be a little different than last year. I completely agree. Coach changes everything. So what should small businesses do to take advantage of this time of year. Which is really important. Their overall sales. I think you hit the right point there as much as covid. We'll bring some challenges. This is always an important time of year for for small businesses Some small businesses may see after their sales come from right last know forty five days of the year so the the things that i think about. Our inventories tend to be maxed out at this time of year roles and staffing can be stretched. And and you know whether it's seasonal workers or have you people work overtime certainly here. In the northern part of the country winter weather arrives and that can Throw challenges in as well now. I know i agree. It definitely will be It will definitely be a transition so with all of these types of things. How can small business owners prepare. Well as always we recommend that Small businesses work with an independent agent to to help them because in every small business is unique even when they stay within the same industry. So things that you know. We like to have businesses think about our our their basic insurance coverage so that when something does if something does go wrong that they're they're protected So an inventory bursting at the teams Making sure limits or adequate their coverage With these being some of the most important sales days the year share their business income coverage that protects them throw unable to conduct their business. mixture their limits are adequate There can be challenges From hiring seasonal workers so whether it's training these employees for workers compensation or Making sure that you you hire the right people not forgetting to do background checks and and the like and then sort of just thinking about all of the you know the christmas traffic that comes in and all of that. You know before you add kobe done. So let's talk about a few of those because you talk about business income coverage but my understanding is is that this is something would happen besides cove it like if there was a fire or another natural disaster. Spit fire seems to be. The you know the most dramatic but you know water damage can be you know. Got a very common one. Whether it's a a pipe break on the street out in front of you. A neighbouring tenant as high frac- or an apartment above you has frac- there's all sorts of different things that can happen. And when when any of those things happen and they cause you to have to close your doors Hopefully not for long period but even just a few days at this critical time of the year Not only are you losing sales. You're losing your profits.

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