South Carolina may be known for its Southern hospitality, but the Palmetto State offers more than just sweet tea, warm weather, and historic charm.
From Columbia to Charleston to Greenville, South Carolina fosters the growth and development of its small businesses. Volunteer-based organization SCORE matches expert “mentors” with entrepreneurs looking to start or expand their businesses. And South Carolina’s Small Business Development Centers help small businesses with everyday needs, from business plan development to tax code navigation.
South Carolina’s small businesses employ more than 743,000 people, accounting for 46% of the state’s private workforce. With more than 45,000 workplace injuries and 88 fatalities across all industries in 2017, small businesses need to make sure they have workers’ compensation insurance coverage.
If you have four or more regular full-time or part-time employees working in South Carolina, your small business is required to carry workers’ compensation insurance. Workers’ comp covers work-related injuries and illnesses regardless of fault. Some exceptions may apply, however, for small businesses who employ agricultural or railroad employees, or who use unpaid volunteers. Also, business owners are not required to be covered by workers’ compensation insurance.
Small businesses may find workers’ compensation coverage through the state agency as well as through private insurers. Larger businesses with enough funds to set aside for potential claims may also self-insure.
Pie Insurance provides workers’ compensation insurance to small busiinesses in South Carolina.