4-11-23 – Why Your Small Biz Probably Needs Corporate-owned Life Insurance – Part 1

FEATUREToday’s guest is Jack Smith of The American Insurance Group:Jack’s email:  [email protected]’s LinkedIn page:  https://www.linkedin.com/in/jacksonsmith1/ The American Insurance Group’s web page: http://www.theamericaninsurancegroup.com/ According to a survey by the National Association of Insurance Commissioners, 71% of small businesses polled said they were very dependent on one or two key people for their success, but only 22% had purchased corporate-owned life insurance.https://www.iii.org/publications/insuring-your-business-small-business-owners-guide-to-insurance/specific-coverages/life-insurance-for-key-employees----------NEWS ROUNDUP1Two prominent monthly surveys of small business owners were recently released for March, and they both indicate owners expect a recession.https://www.nfib.com/content/press-release/economy/small-business-optimism-declines-slightly-in-march/https://www.vistage.com/research-center/wp-content/uploads/2023/04/WSJ-CEO-Survey-0323.pdf2Fallout from the recent bank failures continues, now making some small business owners fearful that as credit slows, their existing lines of credit could be canceled.https://www.foxbusiness.com/markets/banks-canceling-lines-business-credit-soon62% of small business owners say that rising prices have forced them to seek out additional capital or financing for their business in the past year.https://www.uschamber.com/sbindex/quarterly-spotlight3GoDaddy has released a library of ready-made prompts for small businesses to use with either ChatGPT or with Google’s Bard AI tool.https://www.godaddy.com/garage/ai-prompts-for-small-business/----------This podcast is sponsored by SBS Accounting & Advisors.  Use the promo code FLASH and get 20% off your set up fee!  https://sbsaccountants.com/.👀 Watch on YouTube:  https://www.youtube.com/channel/UCmFHZqDGRbOHXjhpicWuqhg.📧 I would love to hear from you!  Please email me at [email protected].🖥️ Learn how I can help your small business at https://eraynay.com/. ----------Email me at [email protected] give me feedback on the podcast.Show web site:  www.smallbizflash.com