There are many benefits of being self-employed. All elements of success of your business fall to you and your workers, and you don’t have to answer to anyone. But what happens if things go wrong? Who will handle your business activities should you find yourself in trouble, such as being convicted with a Driving under Influence (DUI)? If you’re charged with a DUI in Tennessee, you may be wondering if a conviction negatively affects your business. Here is what you need to know.
Your Driving Privileges Could Be Suspended
For entrepreneurs who work at home and don’t have to drive to and from their business premises or to meet customers, this may not impact them. But if you must drive to various locations or your office daily, the suspension of your driving privileges could impact your business operations negatively. If you live in a rural area or a suburb, it could make it impossible to run your business. If you live in a metro area, you may be forced to use public buses or trains.
Jail Time Is Bad News For Your Business
If you are convicted of a subsequent DUI, you might be forced to serve jail time or adhere to specific probation conditions. This is likely to affect your business negatively. Even if you have employees who can run your business even when you are away, you may be forced to hire more workers to ensure the business runs smoothly even when you are away.
Additionally, leaving your business in the hands of an employee is a risk, particularly if its success and efficient operations are closely tied to your skills. After your employees may not have negotiation skills or project management skills that you have.
Your Auto Insurance Rates Might Increase
Everyone understands that a DUI conviction comes with severe financial consequences. One of the major ways you will be affected is through your auto insurance premiums. Your DUI conviction will be included in your driving record. This record is usually submitted and monitored by insurance companies, and there is a good chance your auto insurer will adjust your premiums appropriately.
An increase in your auto insurance premiums could affect your business in different ways. For instance, you may be forced to opt for less overhead supplies. Sometimes, you may realize that you need an alternative transport option in case the coverage is too expensive.
Note that a DUI conviction will not affect your business insurances such as commercial property insurance, general liability policy, product liability insurance, and more. The most significant impact of a DUI conviction will be felt via your auto insurance premiums.
These are just a few ways a DUI conviction could result in upheaval in your personal life and business life as an entrepreneur. One way of preventing this negative impact is driving carefully and making sure that you don’t get convicted in the first place. As an entrepreneur, your business is essential, and you can’t afford to have mismanaged if you end up in jail.