As a small business owner, you know what it means to build something worth protecting. Since the moment you dreamed up your business concept, you’ve done everything in your power to make sure it is successful and sustainable. Having a strategy for addressing expected obstacles is a big part of that. Preparing for the unexpected, however, is just as important. Disasters, by nature, are unpredictable. But they don’t have to catch you off guard. Being ready for a wide range of scenarios is the best protection you can have.
There is no better time than now: September is National Preparedness Month. Each year, we observe this month to prepare communities, individuals, and businesses for disasters and emergencies, from hurricanes to economic downturns to public health crises — and everything in between. This year’s theme is “A Lasting Legacy.” It is all about making sure you’re ready now so that you can forge and preserve a legacy that will weather whatever disaster is thrown at you, your family, your partners, and your employees.
The best part is that you don’t have to do it alone. The SBA’s Office of Disaster Assistance has resources to help the small business community navigate the uncertainty that comes along with disasters and emergencies. Learn the steps you can take to get ahead of the next disaster, as well as how the SBA can support you in the aftermath.
Before the Disaster
Don’t wait until disaster is on your doorstep to act. Preparing now will put you in a better position to survive and recover.
- Assess your risk: Disasters can vary widely by industry and location. That is why it is so important to be aware of the disasters that are most likely to impact your business. Self-assess to determine which common hazards might affect you. Is your business located along the U.S. East Coast? You’re more likely to be impacted by hurricanes. Does your business house a lot of customer data? You may be more vulnerable to cyberattacks.
- Make a plan: A strong response plan can be the difference between a business that recovers and one that doesn’t open again after a disaster. If you’re not sure how to prepare for or respond to a specific kind of disaster, visit the SBA’s emergency preparedness site. The Federal Emergency Management Agency also offers a variety of emergency-related toolkits.
- Execute your plan: Once your gameplan is established, take some time to familiarize yourself and your staff with all the particulars. Build an on-site emergency kit to include essentials like first-aid items, non-perishable foods, medicines, bottled water, masks, sanitizers, flashlights, and battery-powered radios. Check with your insurance provider to make sure you understand your coverage plan and can opt for any necessary policy upgrades. Back up data and make it accessible off-site in the event your technology is affected. You should also physically secure your business location to reduce damage and ensure the safety of your staff.
After the Disaster
When disaster strikes, the SBA provides small businesses with low interest loans and working capital to overcome economic injury.
- Qualifications: Businesses of all sizes located in declared disaster areas can use an SBA disaster loan. That includes private nonprofit organizations (NPOs), homeowners, and renters affected by declared disasters, such as civil unrest and natural disasters.
- Disaster loan types: Damage to physical assets is common with disasters. SBA physical damage loans can cover necessary repairs and replacement costs. Mitigation assistance loans help with operating expenses, and Economic Injury Disaster Loans provide relief to small businesses and NPOs that have incurred losses to their homes or personal property. And for eligible small businesses with expenses to make up for staff on active-duty leave, the SBA offers military reservist loans.
- How to apply: Disasters are difficult enough as it is. That is why the disaster loan application process is streamlined for small business owners. Simply search to see if the federal government has declared a disaster in your area, apply for a loan online, and then log in to your account and check your email for updates.
This National Preparedness Month, the SBA wants to help you be on your toes for the next disaster or emergency — and get back up on your feet afterward, should you need to. Visit sba.gov/disaster to learn more.