Are you prepared in the event of a disaster? September is National Preparedness Month and a good reminder to assess your situation and take the appropriate measures to protect your small business Disasters can be costly, but if you’re ready for them, you’ll be in a position to bounce back should the unexpected occur. The SBA encourages you to ask yourself these three questions:
- What is your risk? The truth is every business is vulnerable to something. The trick is to pinpoint what that something is. Industry and geographical region are both major determining factors. For example, businesses located in coastal regions are more susceptible during hurricane season. Businesses that deal with sensitive data, such as those in the financial services and healthcare fields, are more likely to be targeted by cyberattacks. A back-to-back business self-assessment can help you assess your risks for common hazards.
- Do you have a plan? Even when the worst disaster strikes, an effective response plan can be your lifeline as a small business owner. The right plan will be tailored to your specific operations and needs, and it will be organized by priority level. SBA’s emergency preparedness site contains industry-specific tips. There’s also the SBA’s Business Resilience Guide, which was developed to help small businesses determine how to anticipate the impacts of a disaster on their operations and minimize disruption. The Federal Emergency Management Agency (FEMA) is another great resource, with emergency preparedness toolkits and checklists for common disaster types.
- Could you execute your plan today? Review your plan now with your staff and practice it regularly. Keep an emergency kit on hand. Pro tip: Check with your insurance provider to make sure all your coverage is up to date, and if your company data isn’t already backed up, now is the time to do so.
When a disaster strikes, the SBA can help you respond and recover. SBA physical damage loans, mitigation assistance loans, Economic Injury Disaster Loans, and Military reservist loans become available for businesses of all sizes, nonprofits, homeowners, and renters once the President approves a disaster declaration. Apply for a low-interest disaster loan online at sba.gov/disaster.