Mother nature does not discriminate. A hurricane, fire, flood or another disaster can strike and cause serious problems for the smallest startup or large multinational firms. If you're not prepared, not only could you have to deal with cleanup and damages, but you may have a financial disaster on your hands.
It is vital that you (and your employees) have a response plan in place for any disaster. By preparing for evacuation, protecting property when possible and having a communication plan in place, you'll be able to protect life and property — which in turn will help you avoid more serious financial ruin due to an emergency. Consider downloading the FEMA app, which can provide additional tips and even provide warnings of impending disaster.
No one likes thinking about the possibility of a disaster. However, by preparing for the what-ifs and making sure your insurance is adequate, you'll have less to worry about if such an event does occur. Something as important as lining up insurance for your business shouldn't be left to chance. Contact your insurance agent directly and let an expert help you with this step. Not only will an agent help you choose the best possible coverage, but they may be able to save you money, as well.
If a disaster occurs, what would you need to get back up and running again? Make certain you have all needed data and vital documents gathered, backed up and protected. Consider securely backing up data to an off-site server or the cloud, and use a fire and waterproof safe (or a safe deposit box) to make sure paper documents are protected.
One last, but still vitally important, way to protect your business from financial ruin due to a disaster is to create an emergency fund. Having money put aside that you can access will help you bounce back if a disaster occurs. Additionally, having this accessible can give you more confidence and prevent you from worrying about those "what ifs."
