If you are a small business owner, you may or may not have heard of a dishonesty bond. They are not the best known surety bond out there, but they just might be the most important if the worst happens to your business. There are several pieces of information you deserve to know about if you are going to make a informed decision about dishonestly bonds. Keep in mind, if you don’t, it could mean shutting your doors. Let me explain.
The worst thing you could have happen as a business owner is for an employee you trust to steal from you. The only thing worse is for that to be a large amount. This is where dishonesty bonds come in. Here are 2 ways a dishonesty bond can save your business.
First, by the coverage. This might shock you, but you can get around 100,000.00 of coverage for as little as 300.00 if your ducks line up right. That is a huge amount of leverage, and you should make it available to your small business.
Second, a dishonesty bond can save your business by making it more attractive to investors or a purchaser. If someone is valuing your business, and they see that you have taken the precaution of putting a dishonesty bond in place, that makes your company that much more valuable. It also shows you to be a very prudent business owner.