Wednesday, November 14, 2012

Protect Your Small Business from Disaster

With unpredictable weather on the rise, the time for small business owners to plan for disaster is now. Being unprepared can be costly- an estimated 40% of businesses don't reopen after a disaster. Of those that do reopen, 25% fail within one year.

Here are some key tips to protect your small business:
  • Recognize the potential threats that nature poses in your geographical area. Consider the usual types of events for your region, like earthquakes, as well as the freak ones that may not be the norm, like tornados in Palo Alto. Then take measures to reduce or eliminate your exposure. A structural engineer or your community building or zoning offices can identify ways to shore up your facility against the effects of earthquakes, high winds, flood and fire.
  • Make sure you have protective systems in place. For example, an emergency generator can provide power during outages. Surge protectors can prevent damage to electronic equipment.
  • Back up your computer data – regularly. This is a critical risk management step that most small business owners overlook. Make computer backup part of your daily operations and store copies of your files at an offsite location.
  • Develop a business continuity plan that identifies the specific steps your business will take to return to operation after a disaster. It requires time and effort, but in the long run, it can help reduce loss, save lives and speed your business' recovery.
  • REVIEW YOUR INSURANCE POLICY! Many businesses don’t discover that they're not properly insured until after they've suffered a loss. The results can be financially devastating.
Call us at Allied Brokers to review your insurance coverage, especially if you haven't done so in a while. Together we can determine if you have the right coverage – and the right amount of coverage – if your facilities are damaged or operations are interrupted for a period of time. This could include coverage for loss of business income or loss of perishable stock as well. Plan today to stay in business tomorrow.

Visit our website at www.alliedbrokers.com for information about all the types of insurance we offer. Or call 1-888-505-7988 for a free rate quote.

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