Are you prepared?

Creating a disaster plan that ensures your company is ready for anything.

Here are three components you need to address when developing a disaster plan for your business. First and foremost, you must have a contingency plan so you may avoid having to shut down. Read on.
 

 

Here are the keys to developing a contingency plan:

  • Assess potential hazards.
  • Analyze the potential impact of disasters.
  • Stock up on emergency supplies.
  • Install a generator for emergency power.
  • Check the building’s structure to ensure it is stable and fortified.
  • List backup vendors or suppliers in case primary suppliers shut down.
  • Consider alternative worksites to continue operation.
  • Make a list of 24-hour emergency numbers for employees.
  • Practice drills for mock-disaster scenarios.

 

Back-up data

  • Make backup copies of all critical records, such as accounting and employee data, customer lists, inventory, etc.
  • Keep information in a separate location at least 50 miles away, and ensure information with an online data-backup provider.

 

Review insurance policies

  • Take out a property insurance policy.
  • Consider business interruption insurance to cover cost of lost income if business shuts down temporarily.


Source: The Wall Street Journal Complete Small Business Guidebook, Colleen DeBaise

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