PREPARING FOR DISASTER
Preparing Your Business For Disaster
In the wake of so many natural disasters in 2017 — including Hurricanes Irma and Harvey as well as the California wildfires — do you ever think about whether your business would be prepared for such a disaster ?
The Wall Street Journal estimated losses from these two catastrophic hurricanes at upwards of $ 50 billion , and many businesses will never recover . The Small Business Administration ( SBA ) was reportedly quick to act in the wake of Hurricane Harvey , approving a record number of loans by the next business day . These loans were interestand principal-deferred , providing an opportunity for many businesses to regroup and get “ back on their feet ” before having to worry about repayment . Yet according to estimates by the Federal Emergency Management Agency ( FEMA ), between 40 and 60 percent of small businesses are forced to close following a disaster of this magnitude .
Most experts forecast that climate change will contribute to increasingly severe
“ NO MATTER THE CAUSE OF THE DISASTER — WHETHER NATURAL OR MAN-MADE — BUSINESSES CAN PREPARE TO GET OPERATIONS RUNNING AGAIN AS QUICKLY AS POSSIBLE .” weather occurrences in the future . Granted , businesses have no control over when they will occur and how intensely they will strike . But natural disasters , such as floods , hurricanes , and wildfires , are not the only cause of business disasters . Manmade crises , such as a computer data loss , accidental fire , supplier shutdown , or other business interruptions can also seriously threaten a small business .
No matter the cause of the disaster — whether natural or man-made — businesses can prepare to get operations running again as quickly as possible . The bottom line is that the more prepared a business is , the more likely it can bounce back following a catastrophe rather than go out of business entirely . Even small businesses should develop disaster recovery plans , working with their insurance agent and perhaps even a consultant specializing in disaster preparation .
If you prefer to get started on your own , there are several steps you can take to get the process going . Many of the tasks
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