Small business owners have to watch their expenses very carefully to remain in business and out of personal debt. Incorporating your business may be your first choice to ensure you are protecting your personal assets.
That is a good first step.
The second most important step is to make sure you have the maximum protection for your property. That would include buildings, inventory, cash receipts, automobiles, computers, etc. Most small business owners realize how difficult it is to get a small business up and running but neglect to protect the very same in case of a loss.
Additionally, Michigan law requires that you purchase and maintain workers' compensation coverage...