Young Upstarts

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[Infographic] Courting Disaster: Small Business Lawsuits

There are many challenges facing small businesses – especially in a troubled economy – but one particular aspect too many small business owners ignore that can torpedo their business? The threat of legal action.

In fact, almost one-in-three small businesses in the U.S. have been sued or threatened with a lawsuit in recent years, and they’ve spent more than US$100 billion a year on legal action. I don’t know about you, but that’s a lot of money, not to mention the loss of reputation, credibility and the increased costs on running a business.

Here’s an infographic – created for BOLT Insurance by Infographic World – that shows some of the more common lawsuits that small businesses face, how much it may cost them, and how they can protect themselves.

Better safe than sorry.

(Oh, and we hate lawyers.)
Courting Disaster: Small Business Lawsuits Infographic

[Via: BOLT Insurance]

Daniel Goh is the founder and chief editor of Young | Upstarts, as well as an F&B entrepreneur. Daniel has a background in public relations, and is interested in issues in entrepreneurship, small business, marketing, public relations and the online space. He can be reached at daniel [at] youngupstarts [dot] com.

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