Expert Advice
A Risk Management Guide for Marketing and Management Consultants

Chapter 1: Understanding Your Independent Consulting Business's Risks

Over 70 percent of U.S. businesses are owned and operated by sole proprietors or sole traders, according to the U.S. Small Business Administration's article, "Sole Proprietorship — Is this Popular Business Structure Right for You? New browser window icon." And according to the 2010 Census, the U.S. was home to 10.1 million self-employed workers New browser window icon. — a number that continues to rise each year.

More than 70% of U.S. businesses are sole proprietorships.

For many, the freedom of being one's own boss far outweighs the risks of independent consulting. However, if your consulting business is going to flourish, you have to plan for the pitfalls that may come along, including potential liability lawsuits and property damage. Plus, being an independent contractor or sole proprietor opens you up to other challenges.

In 2010, 10.1 million Americans were self-employed.

In this chapter, you'll learn about business risk and how to identify potential threats to your consulting business. Keep reading to learn more.

Next: Part 1: What Is Business Risk?

Grab-n-Go Information

Free eBook
Expert Advice - A Risk Management Guide for Marketing and Management Consultants
Browse eBook
Sample certificates
See a sample Certificate of Liability Insurance, the proof of coverage you need for most contracts.
View Sample
Sample Quotes & Cost Estimates
See what insurance really costs: actual quotes by policy & specialty.
Get Estimates
Ask A Question
Submit your questions about small business insurance and get answers from our experts.
Read Answers