• Wed. Feb 8th, 2023

Featured guest: Candace M. Bates

By Morgan Angelique Owens,

Chief Creative Beauty Consultant

It’s a new year, so that means realigning your goals but also making sure you have all the tools at hand to be successful. As an entrepreneur myself, I know the importance of making sure your business foundation is strong, first and foremost. Herald Beauty has been fortunate enough to highlight so many beauty businesses in 2021, we also want to help these businesses succeed. We will be doing a serious of Beauty & Business pieces to do just that.

I had the great opportunity to sit down with Candace M. Bates who has an insurance agency (Black Woman Owned) The Candace Bates State Farm Agency -that helps with this initiative. 

Please check out these helpful small home business tips Candace shared. For more information, please visit the Chocolate News podcast on thecincinnatiherald.com and also https://www.candacebatesinsurance.com/

Options to Consider when insuring your small home business

Edited By: Candace M. Bates

More than half of America’s businesses are home-based. But setting up headquarters in your home does not mean your homeowners insurance will adequately protect your operation.

A typical homeowners policy covers around $2,500 of coverage for business property. This will usually cover equipment, but it will not extend liability insurance in the event that you are liable or negligent for something pertaining to your business.

  1. Adding an “in-home business policy” provides more comprehensive coverage for business equipment and liability than a homeowner’s insurance endorsement.
  2. A business insurance policy will cover you for home-based, business related activities that extends your liability should you be responsible for an accident.
  3.  A “non-tenant” business liability policy is an option for Artisan and Service Contractors that do work outside of their home for their business (i.e., painters, plumbing, photographers, bakeries).

Making sure that you are properly equipped with the right tools to be successful is important when starting any small business. Providing customers with the appropriate data to help them make the best decisions for their business while becoming a new entrepreneur is vital. This is a huge step, and one should not feel like they need to make it alone. Ask your local State Farm Insurance Agent, Candace Bates; She and her team are readily available to assist you!

Stay tuned for more tips and tools to help you and your beauty business be successful in 2022 and beyond!