With hurricane season underway, at-risk small businesses need to make sure they have a response plan in place that helps mitigate potential damages. Unfortunately, many small companies don’t come close to checking the boxes for hurricane readiness. And this lack of preparedness can come at a significant cost.
As a Weather Company report pointed out, this year’s hurricane season — which officially began on June 1 and continues through November — is projected to be “busier than usual,” with 14 named storms expected. Of these projected storms, two have the potential to become major hurricanes. With rises in global temperatures prompting higher sea levels, there’s a greater likelihood that these storms will reach further inland than usual. That means more small businesses will be in the path of storms and vulnerable to this hurricane season’s potentially damaging impact as a result.
Historically, small businesses have a notably poor track record when it comes to coping with and recovering from natural disasters. According to FEMA data, nearly four out of 10 small organizations are forced to permanently close in the wake of a natural disaster. Despite that grim statistic, three out of four small businesses lack a disaster recovery plan. For very small businesses – those with 50 or fewer employees – that number jumps to four out of five.
For small businesses, dealing with hurricane season begins by firming up your internal preparedness. Here are some key steps business owners must take to proactively plan for a natural disaster such as a hurricane:
Devise a disaster recovery plan.
Frequently, disaster recovery is relegated to the bottom of a small business’ priority list – especially among businesses that aren’t in traditionally high-risk weather areas. But the reality is that no organization is immune to a disaster, regardless of its location. For…