Is Your Business Prepared for a Natural Disaster?

BBB Offers Tips to Help Deal with the Unexpected

The change from winter to spring may bring with it several potential weather events that could pose trouble for your business. Last February, many businesses were affected by several days of sleet, snow and ice, and later in the spring, hail storms and flash floods caused more damage to local infrastructure.

According to the U.S. Department of Labor, more than 40 percent of businesses never reopen following a natural disaster. Small businesses especially have a tough time due to a lack of resources. Protect your business by having a proactive approach for dealing with the unexpected.

Below are tips to assist you with your planning:

Review Your Insurance Policy
It is important to understand your insurance policy and what the fine print means. Specifically, know what type of natural disasters are covered and what your role is should one occur. Determine if you require additional coverage by reviewing the monetary limitations associated with each natural disaster.

Update Your Inventory
When you submit an insurance claim, you will need to provide an itemized list of damages. Having an accurate inventory prepared prior to a natural disaster will help you assess the situation and determine what your needs are in order to get your business back to normal operating capacity.

Empower Your Staff
Post an emergency plan of action in your place of business or include it with new employee manuals. This will ensure the safety of all staff should a natural disaster occur, and help your business move immediately on to the next step of your action plan.

Develop a Communication Plan
Make sure you have a plan developed to communicate with your customers and vendors in the event of a natural disaster. Develop a list of all parties that have regular contact with your business and account for any outstanding deliveries or customer orders. Update your web and social media sites to communicate any pertinent information.

Manage Expenses
If your business closes temporarily due to a natural disaster, continue to process expenses, such as accounts payable and payroll. Compile a list of all expenses along with account access information in order to continue to be able to operate in a normal capacity.

For more business resources you can trust, visit centraltx.bbb.org/business.

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