As business owners, we want to remain optimistic about our business’ future. But life can happen, and we need to be prepared.
A good business owner thinks about all the risks to their business and has a plan in place to reduce or eliminate them. In 2017, we have already seen floods in the Midwest and California, a healthy dose of tornadoes, and an ice storm earlier in the year. And those are just the weather disasters.
Are you ready?
In 2015, Nationwide ran a survey that revealed that three out of four small businesses do not have a disaster plan. The same survey noted that 52 percent of small business owners thought it would take three months to recover from a disaster.
The most common solution is to create two plans:
There’s a lot of help online to help you create your plan. A few of the major items that should be covered include:
Creating a disaster recovery plan can be the lowest priority item on your to-do list as a business owner – until it isn’t. If you have a lot to lose, then consider spending some time on a plan to give you peace of mind.
This is general information and should not be acted upon without first determining its application to your specific situation. Please contact your business advisor for additional details.
Successfully meeting the challenges inherent to new and smaller businesses provides me with a special type of satisfaction.