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How Natural Disasters Impact Businesses


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Here are some of the most important facets of a business that can be impacted by natural disasters, including tips for preparation.

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How Natural Disasters Impact Businesses

  1. 1. NATURAL DISASTERS CAN HAVE SERIOUS CONSEQUENCES FOR BUSINESSES. HERE ARE SOME OF THE MOST IMPORTANT FACETS OF A BUSINESS THAT CAN BE IMPACTED, FOLLOWED BY TIPS FOR PREPARING FOR NATURAL DISASTERS. HOW NATURAL DISASTERS IMPACT BUSINESSES HOW TO PREPARE A BUSINESS FOR A NATURAL DISASTER • Have a plan in place. • Designate alternative locations or create a plan to allow employees to work remotely during recovery efforts. • Always have backups of essential data and documents stored in a secure location. • Establish a phone tree to make checking in on employees easier. • Make sure locations and facilities are equipped with emergency supplies and that emergency routes and exits are adequately marked. • Keep an updated list of all assets for insurance claims. • Test your backups regularly and include emergency procedures in all employee development efforts. PERSONNEL Concern should be first and foremost centered on people. Businesses must ensure that their employees are all safe and able to return to work as soon as possible. CLIENTS AND CUSTOMERS It might be necessary to reach out to customers to let them know they can expect delays or disruptions in service or in their supply chains. ASSETS Physical assets can be damaged or destroyed during a natural disaster, causing losses and disruptions to service. FACILITIES Depending on the severity of the disaster, a business’s facilities may be damaged, incapacitated or even destroyed. Any loss of utilities can have serious consequences, as well. RECORDS Cleaning up after a natural disaster will require businesses to refer to important records and documentation, such as deeds, insurance policies and banking records — all of which could be damaged or lost in a catastrophic event. COMMUNICATIONS Lines of communication that are taken for granted may be severed or otherwise compromised. This may make it more difficult to coordinate recovery efforts or communicate with suppliers and customers. SUPPLY CHAINS When roads and other means of transportation are damaged or impassable, businesses have to scramble to make alternative arrangements.