Natural disasters such as wildfires, earthquakes, and hurricanes strike many parts of the world, and these can have devastating effects on businesses. It is important to plan ahead and have safeguards in place for eventualities like this. Here are some strategies to help companies stay safe and continue to function during and after a natural disaster.

Check Your Coverage

Before a natural disaster strikes, review the insurance coverage that your business has. If it is inadequate to completely replace your company after significant devastation, consider adding additional coverage.

Have a Plan

Work out a comprehensive emergency operations plan so that in the event of a natural disaster, everyone is ready. This plan should include a structure for emergency leadership, an option for working remotely if your physical location is damaged, and a communications network. You should also have easily accessible emergency kits on hand and a procedure for safely evacuating your building. Be sure that all your employees are familiar with the details of this plan.

Back Up Your Data

Make a practice of always backing up important company data. Copies of physical paperwork should be stored offsite. You can also back up electronic data by storing it in a cloud-based system. This gives you access to all your information and allows you to continue to operate no matter where you are.

Communicate Effectively

Prepare methods of communicating with customers and employees during and after a natural disaster. In the immediate aftermath, check with your employees to ensure their safety. Let customers know how your business has been impacted, send contact information, and inform them of closures and shortened hours.

Assist Others

It takes time for small businesses to rebuild after a natural disaster. If your company has been fortunate enough to come through relatively unscathed, extend a helping hand to businesses that have sustained greater damage. This demonstration of community support will have a positive effect on your business in the long term.

For more advice on how businesses can prepare for a natural disaster, contact Monstera Lending Group.