April 20, 2017
Preparing your business for potential natural disasters can be a lifesaver.
Approximately 10-12% of small businesses close every year in the United States, according to the U.S. Small Business Administration. Some businesses shutter voluntarily, but others have little choice in the aftermath of floods, blizzards, hurricanes, tornadoes, earthquakes, and wildfires. Of businesses that have fallen prey to natural disasters, 1 in 4 will never reopen, according to the Insurance Institute for Business & Home Safety (IBHS).
Businesses are often unable to recover from disasters because they lack a recovery plan, suggests Gail Moraton, business resiliency manager for IBHS. “A business without a plan is at risk because the owner doesn’t know what steps to take before and after a disruption,” explains Moraton. She recommends small business owners work to protect their companies and ensure business continuity – Read the full article to get more insight on the 3 simple steps they define (Assess your risk, Make a Plan and Test, revise, share)