Small or independent business owners face so many challenges, and an important consideration is a disaster or emergency prevention and planning.
After a major emergency, approximately 85% of all small and medium businesses fail within three years when no preparedness plan is in place.
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What constitutes a workplace emergency or disaster?
- Weather based situations such as heavy snowfall, tornadoes or flooding Environmental occurrences such as fires or earthquakes
- Technological problems such as data breaches or communication failures
- Health-related emergencies
All business owners need to have an emergency plan in place to deal with climatic, technology and other threats within and outside the business.
Where to begin?
Identify risks and create a basic plan to deal with each situation:
- Be certain to consider that some key employees may not be able to perform their regular duties.
- Review expectations and communications plan with staff members: What if your employees are not able to make it into work? What if your business had to close for a few days? What if a major supplier is unavailable? What happens if the phones are down? Establish a plan to deal with all possible scenarios.
- Encourage personal preparedness: Employees who are personally prepared for disaster will be more likely to function normally in the event of a workplace emergency.
- Technology considerations: Keep your technology systems secure and up to date. Properly maintain and dispose of sensitive information and perform regular backups.
- Regularly audit emergency systems: Review power backups, safety equipment, evacuation routes, communication protocols and establish meeting places to best prepare for disaster.
Evaluate and review your business’s emergency preparedness plan with your staff on a consistent schedule to help ensure continuity and business health. As your business grows and evolves, so may your insurance needs.
Having the proper insurance coverage in place will help your business better recover in the event of an emergency.
Keep in regular communication with your insurance professional to help ensure continued business health and profitability. If we can help your business, please reach out to us: 519-736-8228