It’s National Small Business Week … Is Your Business Prepared for Disaster?
Posted at 2 p.m.
This week, May 1-7, is National Small Business Week — a time designed to recognize the contributions of America’s entrepreneurs and small business owners.
According to the Small Business Administration (SBA) more than half of Americans either own or work for a small business and they create about two out of every three new jobs in the United States each year.
Small businesses play such a critical role to our economy; therefore, a plan is key if faced with an emergency. According to the Institute for Business and Home Safety, an estimated 25 percent of businesses do not reopen following a major disaster.
You can protect your business by identifying the risks associated with natural and man-made disasters, and by creating a plan for action should a disaster strike. By keeping those plans updated, you can help ensure the survival of your business. Some tips small business owners should consider are:
- Contacting your insurance company to find out your exact coverage.
- Calculating the financial effect (per day) a disaster would have on your business.
- Creating a detailed communication plan for your employees.