One out of five businesses has a major disruption every year, yet 90 percent of small businesses don’t have a business continuity plan. Disruptions can range from the commonplace to the devastating, but often times it’s the businesses without a backup plan that either never reopen or falter and close permanently after they attempt to recover from a devastating loss of property and revenue.
We know that Small-business owners are so busy being their own accountants, business planners, human resources managers and doing everything possible to keep their doors open that often they don’t think about being prepared for disasters. We know that most small businesses have insurance but even if they are adequately insured, they tend to focus on damage to their buildings, and losses to personal property. if a catastrophic event causes extensive neighborhood damage, or knocks out telecommunications or electricity? What about your suppliers, customers and clients?
The Combination of a Business Continuity plan and the smart application of insurance can help protect your investment in your business.