Your business may be fiscally sound, and that’s something to take pride in. Making it in a bad economy shows gusto and know how. But if you were to take hit (breach of data security, floods, tornados, etc,) would you be able to recover? According to statistics, some 40% of all businesses that experience a disaster will not recover, with 65% happening in the first year after.
Here are some tips on how to stay ahead of the curve and protect your small business from disaster.
Review Your Insurance Plan
According to a recent news article, having the correct policy in place is one of the most important factors for your protection.
A disaster recovery plan should include insurance policies such as: commercial property insurance, general liability insurance, workers’ comp insurance, errors and omissions insurance, and umbrella insurance coverage.
Keep Employees Safe
This step is priority and absolutely should not be taken for granted. Your disaster plan should include safety measures in the event of fire, flood, etc., and should give direction on how to remain safe and where to go. Check out this evacuation and procedures tool from OSHA for more information.
Keep Technology Safe
Loss of data can be just as terminal as loss of property. In fact, it has the possibility to be worse in certain situations. Conduct regular checks on your equipment and computers, have a professional provide maintenance at least once a year, and be sure that all of your fire safety measures are in place and up to code.
Maintain an Emergency Contact List
When disaster strikes you’ll want to have all vital information at hand and a list of people to contact. Communicating with your employees and your clients should be your first priority. You’ll want to have a solid communication strategy in place to relay relevant information quickly and easily.