SAN FRANCISCO–(BUSINESS WIRE)–Oct 20, 2021–
In an era of increased business risk, small-medium enterprise (SME) owners and CEOs technology startup founders are falling short in both evaluating these risks and showing the right acumen for risk management, according to a new report released today by Embroker, a digital business insurance platform.
For the report, Big Risks for Small Businesses, Embroker surveyed over 500 SME owners and CEOs and tech startup founders in August 2021. The report found that owners’ and founders’ perception of business risk is not aligned with how they manage and transfer that risk. Owners and founders acknowledged critical business risks like labor shortages and product malfunctions, yet only 22% say they have read and understood all of their policies and half are relying on their brokers to sign up for coverage.
“While many SME owners and startup founders have been experiencing strong growth and financial backing in the past year, modern day risks including cyber…
