Insurance makes you more secure.
As an international entrepreneur, you face risks every day you do business. The cargo you're exporting could fall off the ship, or it might get stolen in transit. Or maybe a customer went out of business and didn't pay for the last shipment you delivered. Even acts of nature can throw a wrench into an otherwise smoothly functioning global business. So if you haven't already, it's time to consider whether or not you're prepared for what the future might bring.
Insurance offers protection, peace of mind and much more. "The reason you use [insurance] to mitigate risk is so you can increase your business," says Jeffrey Meyer, director of international trade programs at Wright State University in Dayton, Ohio. "It's a means by which you can go into more risky markets to get more business, and that makes your business more competitive."
Continue reading this article - and everything on Entrepreneur!
We make some of our best content available to Entrepreneur subscribers only. Become a subscriber for just $5 to get an ad-free experience, exclusive access to premium content like this, and unlock special discounts.
Entrepreneur Editors' Picks
Crypto Doesn't Have to Be Serious. Just Ask This Comedian Who Organized a Conference About Failure in the Industry.
Want to Succeed? Turn Your Fixed Mindset Into a Growth Mindset.
Google's CEO Is Asking Employees 3 Simple Questions to Boost Productivity
'Greatest Storyteller Wins.' Katy Perry on the Surprising Link Between Pop Stardom and Entrepreneurship.
The 5 Personalities You Meet in a Coworking Space
'Man's Best Friend' — and Investment: The Thriving Industry of Pet-Related Franchising