From Internet Service to Insurance: 5 Services to Reevaluate Every Year as a Small Business Owner

Your small business customers often stay in head-down mode, focused on their customers and the bottom line. Unless a crisis arises, it’s easy for them to take business infrastructure like phone service and insurance policies for granted – especially if it seems to be working fine.

However, for the best of their business, they should periodically assess whether these services are delivering maximum benefits. Is there a new competitor in the market, a shift in rate structures, or a leap in technology that could accelerate their business? Or maybe what has changed is the business itself. Perhaps recent growth has strained existing services, or strategic cuts have left them with excess capacity. They may need to make changes accordingly. No matter how their business is working, they should take the time each year to reevaluate these five services.

1. Phone and Internet

Phone and internet connections are the basic building blocks of business, and the ways your customer most likely interacts with their customers, so it’s essential they assess them regularly. They should take stock of whether innovative phone and internet options could take their business to the next level. Perhaps their business has grown enough to need an automated phone system or a more flexible way to access their business line.

Understandably, small business owners might be hesitant to switch phone and internet providers out of fear that a changeover could disrupt operations. After all, what business can afford to have their internet or phones to go down, even temporarily? Comcast Business lets businesses keep their existing phone number, recognizing that a business’s number is part of its identity.

2. Banking

Banks should be a strategic partner for businesses. They should understand your customer’s small business needs and recommend best-fit products to help their company grow. The right banking partner will also be able to steer them in the right direction during a rough period or emergency.

In addition to looking at the quality of the relationship, compare bank fees, rates, and policies such as minimum balances. Consider whether your customer has access to time-saving bank services like payroll assistance, invoice processing, and remote deposit capture.

3. Insurance

Depending on your customer’s line of work, their business might have professional liability insurance, property insurance, automotive insurance, workers compensation insurance, and more. As your policies come up for renewal, businesses should check their deductibles and coverage limits to make sure they still fit and call other agents to compare premium options.

An emerging area of insurance for businesses to consider is cyber liability. Big businesses most often make the news for data breaches, but smaller businesses can also be targets. Cyber attacks are on the rise, and costs can be significant for business disruption, fines, ransoms, files lost, system upgrades, and concessions to customers. As hackers’ tactics evolve, cyber liability coverage is changing, so your customer need someone who can walk the through the latest details.

4. Data and file storage

Keeping files in the cloud provides backup and security and allows for remote access and collaboration, especially when your customers are dealing with large files. It’s important they asses their business’s needs annually and shop around to make sure they’re getting the right mix of price, storage capacity, ease of use, security, and customer support. Comcast Business provides the option of continuous, automatic cloud backup with Carbonite Pro.

5. Accounting

If your customers handle some or all of their company’s books, they might rely on accounting software. Some of these services are free; others charge monthly fees. They should take time periodically to review the options and their needs. It’s important they consider whether they need accounting software to integrate with mobile apps or to allow multiple users and whether they need features for payroll, invoicing tax preparation, or industry benchmarking

Running a small business can be demanding. Remind your customers to take a step back from the day-to-day grind and evaluate whether their everyday services — whether it’s file storage or Internet packages — are in working order.

See the full story here on the Comcast Business Community, and be sure to share this information with your customers.