Compliance with California's health insurance law isn't tricky, but it is nuanced, and failure to follow the rules could cost you a lot of money. There are no criminal penalties for failing to offer health insurance. However, regulators can assess a fine against your company if you fail to provide health insurance or provide a sub-standard plan.

At some point in your business lifecycle, you will have to create a risk management plan. You may already have a risk management plan, but the need for a robust plan grows as your company grows.

Your business insurance covers your day-to-day operations, but it may not include all of your activities. For instance, if you run a website, have your employees use their cars, own a fleet of company cars, or ship product overseas, or across the country, you may not be covered under your current policies.

Employee benefits are a given in any professional workplace. Your staff expects your company to offer the usual medical and dental benefits, and they may also hope you provide other benefits, such as sick time and holiday time.