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Surviving a disaster:

A recent trade article indicates nearly 75 percent of small businesses don't have a disaster recovery plan in place.
For companies with fewer than 50 employees, just 15% have one.  Those low numbers also reflect a lack of relevant insurance coverage, with 66 percent of respondents not having business interruption insurance.  These statistics had me reflecting on what can be in place to help survive a disaster:

Though not all inclusive, here a few items for small business owners to consider:

1.)  Electronically documented inventory, furniture, and fixtures that are backed remotely. 
2.)  A phone system that is accessible remotely (VOIP).
3.)  Maintain a company roster with multiple contact channels.
4.)  Designate a person to be point of contact with insurance company and community.
5.)  Identify locations that could be used for temporary business purposes.  Revisit this list every 3 years.
6.)  Last but not least, Business Income Insurance which replaces your net income and extra expenses during a loss.  Helps offset ongoing costs and keeps cash flow coming into business until back up and running full speed.  In a later blog post, we will visit more about coverage forms with Business Income, but it's recommended to purchase "Actual Loss Sustained" if available.

Lastly, it's a good idea to put these thoughts into a written plan whether formal or not is up the you!

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