Prepare your business for a disaster
With natural disasters are more frequent in recent years there is no better time to prepare your business for the what if scenario. Wild fires in California, tornado’s and floods across the Midwest, and hurricanes in the Southeastern region have destroyed businesses of all shapes and sizes. Most of them found themselves unprepared with insurance policies that were insouciant at getting the business up and running again with minimal loss of business. Below are 10 ways to better prepare your business in case of a natural disaster.
- Make a list of crucial production machinery, computers and other essential equipment you must have to keep your doors open.
- Keep back-up copies of tax, accounting, payroll, production and customer data stored on hard drives stored at a different location.
- Consider using an online computer backup service that stores your data on servers located all around the world.
- Important records should be kept in a fireproof safe.
- Scout temporary locations you could operate from if your building endures major damage.
- Buy a portable generator, in case power is disrupted.
- Review insurance policies. They should cover everything vital to your business.
- Consider business interruption insurance that will cover operating expenses and compensate you for lost income if you are forced to close temporarily.
- Most standard policies will not cover flood insurance. It doesn't take much standing water to do a lot of damage. Review your policy and look into add flood coverage to your policy.
- If you don't own the building in which your business is located, consider working with the owner to evaluate the strength of the roof, windows and doors. Upgrading to impact-resistant windows and doors can help minimize damage to your build in catastrophe situations.
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