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April 17, 2018

How to Handle Natural Disasters at Your Business

Submitted by Kelly Glass

The weather’s been crazy, right? Hurricanes, blizzards, flooding, nor’easters . . .  all things that can cause major disaster for your business. You’ll need to act quickly if you want to be sure the damage isn’t irreversible or even more costly. If you’re the unfortunate victim of a force of nature, follow these steps to minimize the impact.

Create a Disaster Plan Now
Depending on your business’s location, disasters you might experience can range from everything from earthquakes and wildfires to blizzards and even the seasonal flu knocking out half the office. Score.org suggests identifying what risk is most likely and creating a plan to mitigate the damage if it happens. Talk to your insurance agent to see what he or she suggests and determine the potential impact of any disaster. From there, figure out the crucial business functions that will need to keep running in case of a disaster and come up with a plan to keep those working.

Assess the Damage
Just like when something unexpected happens at your home, you’ll need to follow the same process for assessing and documenting the damage. According to Small Business Trends, part of the disaster plan should include tracking the damage — including recording each affected item, taking photos and preparing insurance claims. Make a list of everything and come up with an estimate for how much it will cost to have affected items repaired or replaced. Get your financial records in order as well so you have proof that shows why these items are important to your small business income.

Get Some Support
It’s time to call your insurance company. Do this as soon as possible to get the best chance of receiving a quick payout. And if it applies to your situation, get on the phone with FEMA or the Small Business Administration’s Disaster Assistance team. If your office is completely unusable, see if you can move operations to a temporary space to make sure downtime for the business isn’t impacted too badly. Make sure you inform your customers that you’re a victim of the disaster. Communication is essential, so they know what to expect and what you can provide.

Let Everyone Recuperate
Keep in mind that, while your office has been affected by a natural disaster, it’s not just your office facing the consequences. Employees are likely in the disaster zone as well. Once everything is back up to at least partial speed, give everyone some much needed time off to recuperate and deal with any problems they’re experiencing because of the event. It may also be beneficial to hire some counselors to come in for employee wellness and any PTSD they may be having from the after-effects of the disaster.

Think Taxes
No matter what time of year it is, taxes are an important thing to consider after a natural disaster. File immediately for a tax extension. Businesses in natural disaster areas can sometimes get a delay of up to five years.

No one wants to experience disasters, but they are a reality and you can speed the recovery for your company, employees and clients with a little advanced planning. We hope you find these tips helpful. Idea Custom Solutions does not provide insurance or any related services. However, we care about our customers’ businesses. That’s why our tagline is “Your success. That’s the whole Idea!"

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