Business Insurance

How to Sell at a Farmers Market

How to Sell at a Farmers Market

Posted on by Shield Insurance Agency

Nationwide | February 23, 2021 | Farmers Market | Business Insurance | Start a quote today!

Strolling around the local farmers market on a Saturday morning is a popular pastime, and if you grow, bake, craft, or create things as a hobby, you may have wondered if you might sell your goods and produce there. Farmers markets are growing in popularity, so it’s no surprise that gardeners, bakers, artists, and other local vendors are capitalizing on this money-making opportunity. Before you start down the path of making this dream a reality, you first must make sure that there’s a market at which you can sell.

A Guide to Becoming a farmers market vendor

In this article, we’ll explore how to become a farmers’ market vendor. While it may seem as easy as grabbing your goods, setting up a table, and bringing in customers, there are tried-and-true tips and strategies that may improve your odds of success and increase your profitability. Here are some steps you can take to set your plan in motion:

1. Decide what you’re going to sell at the Farmers Market

You may already have an idea of what you’re going to sell based on your own handmade or grown goods. If you’re an artist, it’s natural that you’re considering selling your art. If you’re a renowned baker among friends and family, you may want to sell your delicacies to the masses. Perhaps you’re considering new things to sell for the first time. Some popular items for sale at many farmers markets include produce, dairy, flowers/seedlings, honey, soap/skin care, beverages, and prepared food.

When thinking about what you’d like to sell, some questions to ask yourself might be:

• Do you have the means to grow your own produce?
• What is your timeline?
• Do you plan to resell goods?

Besides having the means and materials to sell any of the above items, it’s important to note that different products may require different kinds of licenses and that each farmers market has its own rules about what you can and cannot sell.

2. Make a business plan

So you’ve decided to start selling at the farmers market. A good business plan is essential for success as an entrepreneur. It will help you map out the specifics of your business and shed light on some unknowns. A few things a business plan will help you consider are:

• What are the startup and ongoing costs?
• Who is your target market?
• How much can you charge your customers?
• What will you name your business?

Business plans are helpful no matter your level of investment — whether your farmers market is more of a hobby or full-time income. Read more on how to write a business plan.

3. Set your budget

It’s important to know what types of expenses to include in your budget. When setting your budget, there are many things to consider, including:
• Stall fee/site location cost
• Licenses
• Tables and seating
• Personnel (will you be paying staff, or will you have volunteers?)
• Storage (for merchandise and money)
• Credit card processing equipment
• Promotional items (e.g., signs, fliers and order sheets)
• Food permit costs

4. Register your business and acquire any permits or licenses

Before you start selling at a farmers market, you’ll need to get a permit for your booth. Start by contacting your market’s management team and asking what permits or licenses you’ll need to sell legally. It’s also important to be aware of local regulations and what that entails for registration (e.g., your state’s Division of Food Safety). Ask your contacts at the farmers market about required permits and licenses. Information can also be found at your state’s Department of Agriculture website.

If you do need to register with a state or local authority, you’ll fill out an application form, pay a nominal fee and submit to any required facilities inspections (for instance, your commercial or home kitchen).

5. Claim your spot for the perfect farmers market

Be proactive in claiming your spot at the market, as most farmers markets have waiting lists due to popularity among other vendors. Most markets have a website where you can apply. Otherwise, attend the market and ask to speak to a market manager. To maximize your chances of getting your first or second choice for your farmers market booth, contact market operators as early as possible, well before the season begins. Worst case scenario: You get on next year’s waiting list before all the latecomers.

6. Figure out the logistics

You’ll need to figure out all the details of setting up your space and how to transport all your goods and wares from house to market. If your food requires refrigeration, rely on coolers until you know whether your stall in the market contains access to a power source.

If you’re a small vendor, you may be able to fit everything you need in the trunk of your car. Just be careful to package things in manageable amounts because you might have to walk a far distance from the parking lot to your stall. Consider bringing help with you to make the setup, cleanup, and transportation processes easier as well as helping with the sales and monetary transactions.

Tips for making the best of your farmers market endeavors

Once you’re at the farmers market, your booth design and signage are going to play a big role in how successful you are. Make sure your area is open, clean, colorful — and visible. Set yourself up for success with these tips:

1. Market research

What other types of items are being sold at the farmers market you’re targeting? Is your product a good fit? It’s good to sell at a venue where there’s lots of demand for a certain product, but on the other hand, you don’t want to be the hundredth honey vendor at the market. Stick to a specialty that few other vendors offer or choose a market where your product isn’t oversaturated. Of course, differentiating your product from others by advertising its uniqueness always helps.

2. Catchy promotional materials

Good advertising can set your booth apart! When creating your promotional items, always check first to see whether there are certain color or sizing requirements for signs and fliers. If you are artistic (or know someone who is), you can try creating them yourself. If not, hire a marketing or design firm. Your logo and information can go on business cards, shopping totes, and handouts such as pens, just to name a few.

3. Presentation

Put some thought into your farmers’ market setup by figuring out how to present yourself while selling at your stall or booth. In the eyes of the customer, you’re a reflection of your store and your products. If you’re hoping to make a big profit, you’ll have to make your stall eye-catching and attractive. Invest in a clean, simple tablecloth to make your food or produce stand out. Be sure to wipe off any shelving before you set up for the day, and keep sample trays clean and free of crumbs. Opt for legible, creative labels that draw the eye toward all of your goods.

4. Do a practice run at home

Practice setting up and taking down your farmers market booth multiple times before your first market experience. Familiarize yourself with how your outdoor canopy structure goes together, how long the entire process takes, how to hang your business name and logo sign, set up the tables, chairs, accessories, and decorations, and how to best display your goods. Be sure to step back and approach to see how your booth looks from a customer’s point of view.

In addition to becoming an expert at setting up and taking down your farmers market stand, you may also want to practice loading and unloading everything to and from your vehicle or trailer. You don’t want to be frantically cramming items into your car the night before, only to realize it doesn’t all fit. Once you’ve figured out the transportation and how to efficiently pack your supplies and goods, it’s a good idea to pack it up the night before to save time in the morning.

5. Be prepared for inspection at the Farmers Market

Health inspections are inevitable; make sure you are prepared to show your licenses, permits, or certifications. Always know what you’re allowed to sell. If you’re selling meat, eggs, or produce, understand your state agriculture health rules, know the difference between processed and raw food, and keep your food cold if applicable.

6. Respect

Farmers markets are a place of community and teamwork. Make sure to respect your shoppers and fellow vendors. For shoppers, keep your lines moving as swiftly as possible, answer their questions, and share a little background on you and your product if they want it. Don’t be afraid to network with your fellow vendors. Refer a customer to their booth, and share success stories with each other.

A farmers market can be a fun way to sell your wares and/or produce in your community while making some extra money. Farmers markets bring together many customers in one place, and the start-up costs are fairly low. If you have the time and determination to become a farmers market vendor, congratulations — and use these tips on starting a business.

Disclaimer: 

The information included is designed for informational purposes only. It is not legal, tax, financial or any other sort of advice, nor is it a substitute for such advice. The information may not apply to your specific situation. We have tried to make sure the information is accurate, but it could be outdated or even inaccurate in parts. It is the reader’s responsibility to comply with any applicable local, state, or federal regulations. Nationwide Mutual Insurance Company, its affiliates, and their employees make no warranties about the information nor guarantee of results, and they assume no liability in connection with the information provided. Nationwide, Nationwide is on your side, and the Nationwide N and Eagle are service marks of Nationwide Mutual Insurance Company. © 2021 Nationwide and Shield Insurance

Check out more great articles by Shield Insurance Agency!

Read More
When to Replace Your Roof

When to Replace Your Roof

Posted on by Shield Insurance Agency

Nationwide | September 09, 2022 | Roof | Home Insurance | Start a quote today!

Homeownership comes with lots of responsibilities, and one of the most expensive is replacing your roof at the end of its life expectancy. But before choosing to replace your roof, there are some things to consider—and you should always consult a professional before making any decisions.

How often does a roof need to be replaced?

How often a roof will need to be replaced depends on a number of factors, such as the quality of the roof’s installation, the quality of materials used, and the type of roof. Generally speaking, this is how long a roof made of each material can last: [1]

  • Composition shingles: 12-20 years
  • Asphalt shingles: 15-30 years
  • Wood shingles: 30-40 years
  • Rubber roofs: 30-50 years
  • Metal roofs: 40-70 years
  • Clay tile roofs: 50-100 years
  • Slate tile roof: 75-200 years

Harsh winters and severe humidity can cause these materials to wear down faster. Looking at your roof after high winds and intense storms can help you keep your roof in top shape. Whether conducted by yourself or led by a roofing contractor, a twice-a-year inspection of your roof might also help you spot any damage before it becomes too great. [2]

Signs that a roof needs to be replaced

While there are a few things that can indicate your roof is no longer in its best shape, any one sign on its own doesn’t necessarily mean your roof needs to be replaced. If you are worried about any visible signs of damage to your roof, a professional can help you decide whether a total replacement is necessary.

Loose, cracked, damaged, or missing shingles

Missing, loose, or damaged shingles can be detrimental to the integrity of your roof and can lead to problems such as water damage and lack of insulation. Finding exposed spots on your roof where shingles are missing or damaged can be difficult. Professionals are usually much faster at spotting missing shingles than homeowners. But if you’d like to take a look for yourself, you can safely do so with both feet on the ground using binoculars or with the help of a drone. You’ll want to look at each shingle to ensure that they’re sitting flat. Any shingles that are missing should catch your eye fairly quickly. If enough shingles are damaged or nails are exposed, patching your roof probably won’t suffice; you will need a total replacement. [2][3][4]

Signs of water damage, mold, or roof rot

Boards of wood that span the trusses of your roof are known as roof decking or sheathing. Wet wood decking leads to wood rot, which can cause issues in additional areas of your home. Your roof probably has wood rot if the roof deck has dark spots, discoloration, crumbles, or cracks; feels spongy, or has a damp, musty smell. A roofer can also detect wood rot by stepping on shingles above the rot and feeling them give more than usual. If you suspect you may have wood rot, seek the help of a professional home inspector. Initial signs of water damage to your roof may go unnoticed until the damage becomes substantial. These are some signs of water damage to look out for: [5]

  • Fungal and mold growth, which can reduce air quality
  • Bulging or bowing, which will be visible on the roof from the outside; the shingles above this part of the roof might not work properly, and the roof decking can eventually fall in
  • Damage to wood in your home, including structural wood
  • Damaged insulation, which can increase the cost of heating and cooling your home
  • Damage to other home systems, such as your electrical system, particularly if wood rot goes unresolved

Damaged flashing

Flashing helps protect your roof from leaks. It’s made of sheet metal, galvanized steel, or aluminum, and you can typically find it around plumbing vents, skylights, and chimneys. When working properly, flashing helps divert rainwater to the ground. However, when flashing fails, there are several noticeable signs: [6]

  • Cracks, dents, and bends: This makes your flashing more prone to rusting
  • Rust: If your flashing has rust, it will need to be cleaned, sealed, or replaced
  • Missing parts: Repairs should be made promptly if any of your flashings are missing
  • Holes: Sometimes small animals can create tiny holes in your roof that can result in leaks and should be sealed as soon as they are noticed
  • Leaks inside your house: You may find indicators of leaks around your fireplace, windows, skylights, and attic
  • Mold or stains on fascia boards: If your flashing wasn’t installed correctly, mold and water stains might develop on fascia boards
  • Damaged shingles or siding: This will look like bending or darkening on your shingles or siding near the flashing

A professional who is inspecting a roof for leaks or failed flashing will look out for loose nails, holes, and broken seals at flashing edges.

The current roof was installed 20+ years ago

If your roof was installed 20 or more years ago, consult a professional home inspector or roofer. Roofs typically last about 20 years, and your roof may be reaching the end of its life span. [1]

Additional consideration: Are you planning on selling the house?

A new roof can be expensive, but one benefit is that it can add value to your home. While you may not necessarily recoup the cost of a roof replacement in the sale of your home, there are still several benefits to having a new roof installed. You may be more likely to get the full asking price for your home, spend less time with your home on the market, or have shorter negotiations. [7]

If you suspect your roof is damaged or you’re nearing the end of your roof’s life expectancy, consult a trusted professional before making any decision on repairs. Your roof is an essential part of your home, protecting the structure from leaks and damages. Furthermore, Nationwide and Shield Insurance is here with personal insurance plans to protect your home in case of disaster.

[1] “How Long Do Roofs Last? 5 Roof Types and Their Lifespans,” fixr.com/resources/how-long-do-roofs-last (accessed June 2022).

[2] “How Often Should You Replace Your Roof?” roofadvisor.com/how-often-should-you-replace-your-roof (accessed June 2022).

[3] “Should I Replace My Roof? Here Are 21 Things to Consider” familyhandyman.com/list/should-i-replace-my-roof-here-are-21-things-to-considerfamilyhandyman.com/list/should-i-replace-my-roof-here-are-21-things-to-consider (accessed June 2022).

[4] “How Can I Tell If I Have Missing Roof Shingles?” hopewell-roofing.com/can-tell-missing-roof-shingles (accessed June 2022).

[5] “What is Wood Rot & When to Replace Roof Sheathing,” io.com/na/pro/building-professional-tools/roofing-101/rotted-roof-deck-how-to-replace-roof-sheathing (accessed June 2022).

[6] “Roof Flashing Failure: Why It Occurs and Ways to Address It,” negutters.com/blog/roofing/roof-flashing-failure-why-it-occurs-and-ways-to-address-it (accessed June 2022).

[7] “How Much Value Does a New Roof Add?” zillow.com/sellers-guide/should-i-replace-my-roof-before-selling (accessed June 2022).

Disclaimer: The information included here is designed for informational purposes only. It is not legal, tax, financial, or any other sort of advice, nor is it a substitute for such advice. The information may not apply to your specific situation. We have tried to make sure the information is accurate, but it could be outdated or even inaccurate in parts. It is the reader’s responsibility to comply with any applicable local, state or federal regulations. Nationwide Mutual Insurance Company, its affiliates and their employees make no warranties about the information nor guarantee of results, and they assume no liability in connection with the information provided. Nationwide and the Nationwide N and Eagle are service marks of Nationwide Mutual Insurance Company. © 2022 Nationwide and Shield Insurance Agency

More blog articles by Shield Insurance Agency

Read More
Personal Finance Tips for Dealing with Inflation

Personal Finance Tips for Dealing with Inflation

Posted on by Shield Insurance Agency

Nationwide Insurance | September 16, 2022 | Inflation | Start a Quote Today!

Inflation is at the top of everyone’s minds right now. Our recent Nationwide Retirement Institute® survey found the majority of U.S. parents (60%) listed inflation or the rising cost of living as their top financial concern right now. [1] Coming out of the Covid-19 pandemic, we have seen supply-chain issues, as well as rising consumer demand. Add in the fear of a potential recession, there’s a lot in the current environment that is putting pressure on families.

Personal Finance Tips for Dealing with Inflation

We’ll discuss what is causing inflation and how to save money with our personal finance tips that you can take to help deal with inflation.

What is causing inflation?

To put it simply, inflation is a measure of the rate that goods and services are rising in the economy. Inflation can occur nearly everywhere, from basic daily needs and services such as food and housing, and also in luxury goods, such as cosmetics, vehicles, and more. [2] When inflation is rising, it can make consumers’ purchasing power less valuable. If the inflation rate in a given year was 5% and your yearly salary increase was only 3%, you would have less purchasing power in the next year.

So, what exactly causes inflation? There are a variety of factors that can play into the inflation rate rising, but we’ll break down a few here.

Supply and demand

When consumers want to spend more either with cash or by accessing extra credit, businesses could raise prices due to not being able to keep up with supply at the rate that consumers are wanting. Businesses also might see this as an opportunity they can raise their prices more without losing customers, as demand is so high that consumers will buy regardless.

Supply chain issues

Supply chain issues can also lead to increase inflation. The coronavirus pandemic forced many factories to either shut down or limit production. This led to less supply across many different industries. On top of that, there has been a shortage of workers across different industries and it is more expensive to ship products right now.

In short, there is often not one single issue that drives the increase in inflation, and there are a variety of factors that come into play and affect different industries all at once. [3]

How to deal with inflation

While we can’t personally affect how inflation is roaring throughout the country, there are different steps we can take to help ourselves save money and not feel the sting of inflation as hard.

Make a budget

One good step is making a budget to track how much you are spending each month to hold yourself more accountable. You might be spending more than you realize in some areas or find that you have a recurring expense that you forgot about. You can then reallocate your spending to different areas, invest your money, or save some money based on your budget. For some more tips on how to create a budget, view these tips from The Balance or start developing a realistic plan with our budget worksheets.

Save money at the grocery store

While many of us are feeling the extra cost of food and groceries, there are many ways we can try to grocery shop on a budget. Our previous blog goes into detail on 14 different ways that you can save on groceries so you have that money to use elsewhere.

Make extra money with a side job

Side gigs have become increasingly popular these days, as many of us look for some extra cash to meet our financial goals. There are a variety of different ways you can make extra money with a side job, depending on your time commitment and how much you are looking to make.

Here are 13 different side jobs that provide a high reward for low commitment.

Invest

Investing can be a way to get out ahead of inflation and potentially receive a better rate of return on your money. Traditional savings accounts will most likely not provide a larger rate of return than the cost of inflation, so you may not be taking full advantage of your money by leaving it all in a savings account.

Nationwide has many different options when it comes to helping you prepare for your financial future with investing and retirement. Learn more about our annuity, life insurance, mutual funds, ETFs, retirement plans, and more here.

If you are looking for a financial specialist who can help you with your investing needs, you can find one here.

Take advantage of insurance discounts

Insurance discounts are also a great way to keep yourself on budget and save some extra money. Nationwide offers discounts on car insurance and gives our members a variety of different ways to save. We also believe that dependable homeowners insurance shouldn’t strain your budget. View our full range of available home insurance discounts here to help yourself start saving more today.

Work with a finance professional

To make sure you are staying on track with your financial goals, a financial professional can help with money and retirement planning. No matter your stage of life or where you are at in your retirement planning, you can find a financial professional who fits your unique situation to help you reach your financial goals.

Find a financial professional here.

Inflation Conclusion

While we can all certainly feel the sting of inflation in our daily lives and the products and services we buy regularly, there are various ways that we can work to save money and come out ahead. Whether it’s making a budget, finding ways to save at the grocery store, investing, finding a side job, or using Nationwide’s insurance discounts, find what works best for you on how to save money in your daily life.

Inflation Sources:

[1] Nationwide Financial Family Finances Flash Poll Findings, August 2022

[2] https://www.investopedia.com/ask/answers/111314/what-causes-inflation-and-does-anyone-gain-it.asp

[3] https://www.nytimes.com/article/inflation-definition.html

Disclosure:

Investing involves market risk, including possible loss of principal, and there is no guarantee that investment objectives will be achieved.

NFM-21839AO.1

More fascinating blogs by Shield Insurance Agency

Read More
How Does Investing Work?

How Does Investing Work?

Posted on by Shield Insurance Agency

Acorns.com | Tim Stobierski | Dec 19, 2022 | Investing | Shield Business Insurance | Start a quote today!

IN A NUTSHELL

  • Investing is when you purchase assets you expect to earn a profit from in the future.
  • Compounding (aka when the returns on your money generate their own returns) the longer your money is in the market, the longer it has to grow.
  • Investing small amounts regularly over time is a habit that will help you build wealth throughout your life called dollar-cost averaging.

You may have heard that investing is the best way to grow your money and reach your biggest financial goals. But what is investing, exactly? How does investing work? And how can you get started? Find the answers to those and other investing questions below.

What is investing?

At its simplest, investing is when you purchase assets you expect to earn a profit from in the future. That could refer to buying a home (or other property) you believe will rise in value, though it commonly refers to buying stocks and bonds.

How is it different from saving?

Saving and investing both involve setting aside money for future use, but there are a lot of differences, too. Check out this chart:

InvestingSaving
Always involves risk. Even the safest investments involve some risk that could cause you to lose money.Rarely involves risk. If your cash sits in an FDIC-insured savings account (which protects up to $250,000), you typically don’t need to worry about losing any.
Higher potential for growth. Depending on how much risk you’ll accept, it’s possible to earn a large return on your investments. With stocks, for example, the long-term average is nearly 10 percent per year.Lower potential for growth. Virtually all savings accounts will pay you interest for keeping money in your account. But it probably won’t be much and often fails to keep up with inflation (the rate at which prices are rising).
Usually best for mid or long-term goals. Generally, it’s best to only invest money you won’t need for a little while, as the stock market fluctuates and you don’t want to be forced to sell stocks that are down because you need the money.Good for short-term goals. A savings account, being essentially risk-free, is ideal for immediate purchases as well as any money that you can’t afford to lose in the short term (such as an emergency fund).
May be difficult to access quickly. Before you can spend any of the money you’ve built up through investments, you’ll have to sell them. With stocks, it could take days before the proceeds are settled in your bank account, and selling property can take months (or longer).Readily accessible. Generally speaking, you can access money in your savings account anytime.

What’s the difference between investing and trading?

Click here for the full story !

More great blogs by Shield Insurance Agency

Read More
Microplastics are fragments of any type of plastic less than 5 millimeters (mm) in length and are an increasing topic of risk

Microplastics

Posted on by Shield Insurance Agency

Liberty Mutual Business | Commercial Insurance | Microplastics | Start a Quote Today!

Microplastics are fragments of any type of plastic less than 5 millimeters (mm) in
length and are an increasing topic of risk discussions due to their prevalence in
the environment and the negative impacts they potentially pose on the earth and its
inhabitants. The term microplastics was first introduced to differentiate these smaller
fragments from their larger counterparts, macroplastics, which describe larger plastic
waste, such as plastic bottles.

Two classifications of microplastics are
currently recognized

Primary Microplastics

Primary microplastics include any plastic fragments or particles that are already 5 mm (5,000 mm) in size or less before entering the environment. Primary microplastics are purposefully manufactured and can include feedstock for manufacturing plastic products, such as plastic pellets (also known as nurdles), microfibers from clothing, microbeads in personal care products, glitter, and industrial abrasives. Once in the environment, microplastics can degrade to be even smaller in size. 

Secondary Microplastics

Secondary microplastics arise from the breakdown of larger plastic products through natural weathering processes after entering the environment. Sources of secondary microplastics can include water and soda bottles, fishing nets, plastic bags, shedding of fibers from polyester/nylon clothing, and tire wear. Over time, a culmination of physical, biological, and photodegradation can reduce the structural integrity of plastic debris to a size that is eventually undetectable to the naked eye. This process of breaking down large plastic material into much smaller pieces is known as fragmentation. Microplastics can be further divided into four sub-groups based on particle size: 

  1. Large microplastics (100–5000 mm)
  2. Small microplastics (1–100 mm) 
  3. Sub-micron plastics (100–1,000 nm) (0.1– mm) 
  4. Nanoplastics (1–100 nm) (0.001–0.1 mm) Because of their smaller size, nanoplastics can present additional risks and challenges: 

They may bypass filtration methods intended for larger microplastics. 

They may be less likely to settle, have greater mobility, and may be transported further. • They may be more likely to enter and bioaccumulate in the food chain. 

Due to their higher surface area, faster leaching of plastic additives can occur. 

They may act as pollutant “vectors” because their higher surface area also allows for more adsorption of metals and other pollutants.

Microplastics can also be categorized according to type of polymer, additives used, and shape.

U.S. National Oceanic and Atmospheric Administration (NOAA) and the European Chemicals Agency (Note: 1 mm = 1,000 micrometers [mm] = 1,000,000 nanometers [nm])

Source of microplastics in the environment There are countless sources of both primary and secondary microplastics in the environment, including the following:

Cosmetics: Microplastic “scrubbers”, “microbeads”, or “micro-exfoliates” used in hand cleansers and facial scrubs have replaced traditionally used natural ingredients, including ground almond shells, oatmeal, and pumice. These products are typically composed of polyethylene, a common component of plastics, but they can also be manufactured from polypropylene, polyethylene terephthalate (PET), and nylon. The beads may be washed into the sewage system immediately after use. 

Textiles and clothing: Many synthetic fibers, such as polyester, nylon, acrylics, and spandex, can be shed from clothing and persist in the environment. The process of washing clothes causes garments to lose an average of over 100 fibers per liter of water. Each garment in a load of laundry can shed more than 1,900 fibers of microplastics, with fleeces releasing the highest percentage of fibers. 

Tires: Car and truck tires. which are composed partly of synthetic styrene-butadiene rubber, erode into tiny plastic and rubber particles as they are used. The estimated per capita emission ranges from 0.23 to 4.7 kg/year, with a global average of 0.81 kg/year. In air, 3–7% of the particulate matter (PM2.5) is estimated to consist of tire wear and tear. 

Plastics manufacturing: Plastic pellets (aka nurdles), 2.0–5.0 mm in size, which are used as a raw material to create other plastic products, can enter the environment through spills and other accidents. 

Air blasting: This process involves blasting acrylic, melamine, or polyester microplastic scrubbers at machinery, engines, and boat hulls to remove rust and paint. As these scrubbers can be used repeatedly until they diminish in size and their cutting power is lost, they may become contaminated with heavy metals such as cadmium, chromium, and lead. 

Fishing industry: Recreational and commercial fishing, marine vessels, and marine industries can be sources of macroplastics and secondary microplastics. 

Wastewater treatment plants: The size of microplastics prevents them from fully being retained by preliminary treatment screens at wastewater plants, thereby allowing some to enter rivers and oceans. Wastewater treatment plants only remove an average of 95–99.9% of microbeads. This leaves an average of 0–7 microbeads per liter being discharged. Sewage sludge that is reused as fertilizer after the wastewater treatment has also been known to contain microbeads. Persistence of microplastics in the environment Microplastics are persistent and ubiquitous in the environment, particularly in aquatic and marine ecosystems. The most significant transport pathways to surface water are presumed to be via dust and stormwater runoff. It has been estimated that there are 51 trillion individual pieces of microplastics in the world’s oceans, estimated to weigh 236,000 metric tons. Microplastics can also accumulate in the air and terrestrial ecosystems but the cycle and movement of microplastics in the environment is still not fully understood. Microplastics have also been found in deep layer ocean sediments and in the high mountains, at great distances from their source. According to the U.S. EPA: 

Of the total plastics released to oceans (4.8–12.7 million tons (Mt)/year), 15%–1% originate as microplastics from homes and industrial products. 

About half of the total (3.2 Mt/year) microplastics released, or about 1.5 Mt/year, ends up in oceans. The following are the estimated sources of microplastics to oceans:

  • Washing synthetic textiles (35%) 
  • Tire wear (28%) • City dust (24%) 
  • Road Markings (7%) • Marine Coatings (3.7%) 
  • Microbeads (2%) 
  • Plastic pellets (0.3%) It has been estimated that 80% of microplastic pollution comes from textiles, tires, and city dust

here for the full story…

More fascinating blogs with Shield Insurance Agency

Read More
Tips on filing claims

Tips for effectively filing claims

Posted on by Shield Insurance Agency

Foremost Insurance | Ryker Huizinga | Filing Claims | Homeowners Insurance | Get A Quote

Experiencing a loss can be stressful, frustrating, and disheartening, but having insurance coverage will help alleviate the financial burden a loss can cause. The first step in restoring your property and moving forward is to determine if your policy provides coverage for the loss. To do this you need to file a claim with the insurer.

While the claims process isn’t something many eagerly look forward to, there are definitely ways you can make it a less stressful experience. To help you successfully navigate the process, here are several tips for effectively and efficiently filing claims.

Keep an inventory of all your insured possessions.

Be proactive! If you keep a written document of your possessions, it can help make the claims process much easier if you experience a loss. Go from room to room and record each item and its value to prepare an inventory. An easy way to do this is to take photos or videos of each room and all of the contents in the rooms. Consider keeping receipts with the purchase date and original cost for your records too, in case of total loss. Your inventory list should be consistently updated, which can be done easily if you record new items shortly after purchasing them. Pro Tip: Your inventory should be easily accessible. It is a good idea to keep a couple of copies of your inventory at different locations, with one location being off-premises in case of a total loss, like a fire.

Before filing claims reach out to your agent.

In the event of a potential claim, it’s best to contact your agent directly instead of the broader insurance provider. Your agent will be able to explain your options and advise on whether filing a claim is in your best interest. In some cases, your agent may even file the claim for you.

Report your loss promptly.

Always file your claim as soon as you possibly can. Of course, theft losses should be reported to the police first, and in other situations of danger and urgency, safety takes priority. But once it’s safe and reasonable to do so, you should contact your insurance agent. This is important because your policy might require you to make the notification within a certain amount of time. Not filing a claim within the time required in your policy may lead to a denial of the claim or may result in the claims process taking longer.

Be prepared for filing claims with the right information.

When you file your claim or make follow-up calls regarding the process, be sure to have the right information so your conversation is easier and more effective. Have your inventory list and the details of your loss, and keep the following information handy for your claims representative:

  • The customer’s name and address
  • The policy number
  • The date the loss happened
  • A description of what happened
  • A preferred telephone number for future contact

Provide complete, correct information.

Explain the situation accurately without downplaying or exaggerating your loss. Incorrect or incomplete information may cause complications and delays in processing the claim. Additionally, materially misrepresenting the facts of your loss may result in a loss of coverage.

Record important details from all correspondence.

While going through the claims process, be sure to write down important information from your phone conversations and in-person meetings with claims representatives and other contacts. This should include the time and date, as well as the name and title of the person you spoke with. This will help you stay organized and create records that may come in handy later.

Make appropriate emergency repairs.

If you’re dealing with property damage it may be necessary to make immediate emergency repairs to prevent additional damages, such as calling a plumber to repair a broken pipe. Your policy might cover the costs of these emergency repairs, so be sure to inquire about them when filing the claim. It is also important to take photos or even videos before making the repairs and save the receipts from all of the work that is done.

Ask questions about filing claims

Don’t be afraid to ask your claims representative for more information or clarification. The process will go much more smoothly if you are both on the same page and fully understand each other. For example, if there is a disagreement about the coverage of the claim, ask for the specific language in the policy that is in question to find out if it is a matter of differing interpretations.

Overall, it’s important to have patience because every insurance claim is different! Some may be completed quickly, while others may take a few weeks or even months to be resolved. You never know when problems will arise, but these tips can help you to effectively address the situations and smoothly navigate the claims process.

More Blogs from Shield Insurance Agency

Read More
Top 3 challenges entrepreneurs face

Top 3 challenges entrepreneurs face

Posted on by Shield Insurance Agency

The Foremost Team | entrepreneurs | Business Insurance

The bell above the door dings and the first customer of the day enters. Grandpa hops up from his desk and greets the customer with a small-town smile ready to answer any question the customer has about his window and door display. Grandma is ready too. She’s in the back room rolling new screens on old frames, ready for any customer problem—broken glass, a hole in the screen, or bent slider frames. I was busy rolling sticky letters on the windows, drawing pictures for my grandpa’s back office, and giving the customers a big five-year-old toothless grin as they entered the shop.

When I think of a small business, memories of my grandparent’s little window and door shop come to mind. With humble beginnings, they poured all they had into their business, but it didn’t come without its challenges. In fact, putting aside economic impacts on a small business, there are several challenges that entrepreneurs face daily to keep the doors open.

Putting aside economic impacts on a small business, there are several challenges that entrepreneurs face daily to keep the doors open.

Here are the top three obstacles small business entrepreneurs face on a daily basis:

  1. Client Base and ServiceGrowing your client base can be a challenge, but it’s vital. Your business might have created the most useful thing since a toothpick, but if no one knows about it, income is doomed. Attaining clients can be hard for those that don’t have a marketing plan or don’t know how to implement it. One step beyond that is retaining a customer base and providing a great product or service that keeps the client motivated to come back.
  2. FinancesMoney management is essential to keep a small business operating, even when the cash is flowing in. Many small business owners have their own assets invested in the company, which means added pressure when business is slower than anticipated. Poor planning and lack of funding can be added stressors.
  3. TimeMany business owners, even successful ones, usually work more hours than their employees and more hours than they plan on. The constant pressure to grow can lead to more work and result in exhaustion. Even those with high energy and passion can find themselves fatigued. It’s important for business owners to find the right pace to keep the business running and the employees positive and healthy.

Most smart small business owners consider the challenges they might face before they even begin. Although daily obstacles are sure to come up for a business, it certainly doesn’t mean failure is ahead. In fact, facing these types of obstacles is sometimes what drives people to pursue their dream in the first place, like my Grandpa. The old window and door shop didn’t come without stress, but that’s what drove him and grandma to continue excellent customer service and impeccable work. He ran a successful small business for years, devoted time to his family, and retired early. I’d say that’s the dream most people hope for.

Protect what you own and what you do.

More interesting blog articles by Shield Insurance Agency

Read More
Steps to Take Now to Get a Jump on Your Taxes

Steps to Take Now to Start Your Taxes

Posted on by Shield Insurance Agency

IRS.gov | 09-Feb-2023 | Taxes | Insurance Quoting Portal | Types of Insurance with Shield Agency

Tax planning is for everyone. Get ready today to file your 2022 federal income taxes. Planning ahead can help you file an accurate return and avoid processing delays that can slow your tax refund.

Steps you can take now to make filing taxes easier in 2023

Create or access your account information at IRS.gov/account

Use your online account to securely access the latest information available about your federal tax account and see information from your most recently filed tax return.

You can:

  •  View your tax owed, payments, and payment plans
  • Make payments and apply for payment plans
  • Access your tax records
  • Sign Power of Attorney authorizations electronically from your tax professional
  • Manage your communication preferences from the IRS

Gather and organize your tax records

Organized tax records make preparing a complete and accurate tax return easier. It helps you avoid errors that lead to processing delays that slow your refund and may also help you find overlooked deductions or credits.

Wait to file until you have your tax records including:

Notify the IRS if your address changes and notify the Social Security Administration of a legal name change.

Remember, most income is taxable. This includes:

Check your Individual Tax Identification Number (ITIN)

Read more on preparing for taxes…

More interesting blogs by Shield Insurance

Read More
Types of Retirement Plans for Individuals in 2023

Types of Retirement Plans for Individuals in 2023

Posted on by Shield Insurance Agency

PersonalCapital.com | By JJ Lester, CFP® | November 10, 2022 | Retirement Plans | Life Insurance

Imagining your retirement can be exciting, but for many, building your nest egg can also be overwhelming.

There are numerous types of retirement plans for individuals. Choosing which one to use may leave you unsure of the best option. The best way to feel confident about your retirement savings is by having a long-term financial plan and a fiduciary financial professional on your team.

In this article, I’ll give a primer on the most common retirement account types, how they work, and who they might work best for.

Selecting the right savings vehicle is not always straightforward. Many factors come into play when you are building a retirement plan: your current age, income level, and ideal tax-optimization strategy. Here are some common retirement plans and criteria to consider.

Tip: Free personal finance tools can help you analyze your retirement plan. A good place to start is with Personal Capital’s Retirement Planner, which will help you assess your retirement readiness and identify areas for improvement.

1. Traditional 401k | Retirement Plans

One of the most popular and widely known investment tools, the 401k, is an employer-sponsored retirement plan that lets you save for retirement in a tax-sheltered manner.

Traditional 401k contributions are made with pre-tax dollars, ultimately reducing your taxable income and allowing your contributions to grow tax-deferred until you withdraw your money in retirement.

In 2022, the contribution limit is $20,500 ($22,500 in 2023), and individuals aged 50 and over may contribute up to an additional catch-up amount of $6,500 ($7,500 in 2023).

Employers may offer a profit-sharing or employer match program where they contribute a certain percentage to your 401k plan. Employers can utilize different vesting requirements, such as being employed for a certain number of years. Other times, contributions made on behalf of your employer may be 100% immediately vested, meaning that money is in your own hands once applied to your 401k account. If an employer requires a certain amount or percentage of your salary to be contributed to your 401k in order to receive the matching benefit, you should contribute at least that amount to take full advantage of your employer’s contribution.

Before withdrawing contributions from your 401k, you should work with your financial advisor to avoid paying withdrawal penalties. If you are age 59½ or younger, withdrawals are assessed at a 10% penalty in addition to ordinary income taxes (taxed at your highest marginal tax rate). Though there are a few IRS exceptions from the early withdrawal penalty, taking money out of your 401k before you are 59½ or at the age of 72 (for Required Minimum Distributions) is usually not advised.

Ideal For: If you think you will be in a lower marginal tax bracket when you start withdrawing funds in retirement, a traditional 401k plan can be advantageous.

2. Roth 401k

Read more about Retirement Plans..

More blog articles by Shield Insurance Agency

Read More
work’s new normal

CEOs still grappling to define work’s new normal

Posted on by Shield Insurance Agency

Worklife.com | BY LAURA PETRECCA | JANUARY 4, 2023 | Work’s new normal | Business Insurance

Inflation. 

A potential recession. 

Geopolitical uncertainty. 

Managing a remote workforce. 

Company leaders are buckling up for a bumpy 2023. After nearly three years of dealing with pandemic-induced stressors, they’re bracing for more tough times to come with economic instability, geopolitical risks, and talent-related concerns, among other looming issues.  

As we enter the new year, more than a dozen top executives have shared their expected challenges with WorkLife. They also reflected upon their most pressing concerns in 2022 and addressed how they cope with continuous change. 

The leaders work at firms that range from startups to well-established companies and represent different fields, such as communications, health care, food service, and entertainment. Yet, many of their concerns overlapped. In their predictions for 2023, one overarching theme emerged: expect the unexpected. 

“Never before have CEOs faced so many different variables in trying to plan for, budget and strategize” for a new year, said Constantine Alexandrakis, CEO of leadership advisory firm Russell Reynolds Associates, who speaks with other CEOs regularly. “The unpredictability of the unpredictability is the biggest thing keeping us up at night.”

At his firm, “the biggest challenge will be navigating that uncertainty, pivoting resources, attention and investments to where the opportunities are and pivoting away from the spots that will be particularly troubled,” he said. 

For Lisa Osborne Ross, U.S. CEO at public relations giant Edelman, the most daunting challenge of the last few years was simply accepting the ambiguity and uncertainty. “I thought the hard would be over by now,” she said. “But we still have yet to truly define our new normal, and that lack of clarity on the future of our workplace — and our world — continues. Being comfortable with those lingering unknowns, while still seeking to move forward and make progress, is not an easy position to be in.”

Looking ahead, “the biggest leadership challenge of 2023 will be learning how to not just survive but thrive, regardless of what comes our way,” she added.

Contending with internal and external issues | Work’s new normal

And indeed, there’s much coming their way. 

There are internal concerns, such as keeping a remote workforce productive and engaged, as well as outside factors, such as inflation, economic instability, and the widespread effects of the war in Ukraine. 

On the workforce front, Melissa Bouma, CEO of content marketing agency Manifest, said finding a hybrid work model where employees can effectively ideate and create is among her most significant issues as a leader. 

Like countless other CEOs, Bouma also manages employees that had an incredibly tough past few years. “We went through the pandemic. We went through societal evolution. We went through a Great Resignation and reshuffle,” she said. And now there are concerns about inflation and the overall economy.

One of her biggest challenges in 2023 is “to find a way to encourage everyone at the same time to get excited and passionate and remain that way,” she said.

Read more about work’s new normal…

Great blogs by Shield Insurance Agency

Read More