Prepare Your Business for Emergencies: Ensuring Resilience and Swift Recovery
Emergencies and disasters can strike at any time, posing significant financial challenges for businesses. However,
with proper preparation, you can enhance your ability to recover and maintain operations when faced with adversity.
Take the following steps to ensure your business is well-equipped to handle emergencies:
Step 1: Assess Your Risk
Recognize that every business has its unique vulnerabilities. Understanding the disasters that are most likely to
impact your specific operations will enable you to respond more effectively. Conduct a back-to-business
self-assessment to evaluate your exposure to hazards such as hurricanes, wildfires, floods, or cyberattacks.
Step 2: Create a Comprehensive Plan
Crafting a response plan tailored to your business’s needs is crucial for a swift recovery. This plan should address
immediate priorities and be easily accessible to all stakeholders. Utilize checklists and online toolkits provided
by reputable resources like the Internal Revenue Service (IRS) and the Federal Emergency Management Agency (FEMA) to
guide you through the development process. Focus on the disasters that pose realistic risks to your business and seek
guidance on mitigating their financial impact.
Check:
Step 3: Execute Your Plan
Regularly practice and train your staff on the execution of your emergency response plan. By doing so, you will
enhance their preparedness and readiness to respond effectively when a disaster occurs.
Access Financial Assistance After a Disaster
In the event of a declared disaster, you may qualify for a low-interest disaster recovery loan through the Small
Business Administration (SBA). These loans can help cover costs associated with damaged or destroyed assets,
including real estate, personal property, machinery, equipment, inventory, and other business assets. Explore the
various types of SBA disaster loans, such as Home and Property Disaster loans, Economic Injury loans, and Military
Reservist Economic Injury Disaster loans, to determine the most suitable option for your needs. Remember to submit
your SBA disaster loan application promptly and inquire about increasing your physical damage loan for mitigation
purposes. The application process is free, and there is no obligation to accept a loan if approved.
Seek Expert Advice and Training
Visit ready.gov/business or contact the SBA’s Disaster Assistance Customer
Service Center at 1-800-659-2955 or disastercustomerservice@sba.gov
for access to emergency toolkits and guidance. If you have hearing or speech disabilities, dial 7-1-1 to access
telecommunications relay services. Additionally, FEMA’s Organizations Preparing for Emergency Needs (OPEN) offers a
self-guided training program designed to equip small business owners and operators with the knowledge to identify
risks, locate resources, and take appropriate preparedness actions.
By taking proactive steps to prepare your business for emergencies, you can minimize the financial impact of
disasters and ensure a smooth path to recovery. Don’t underestimate the importance of readiness and resilience in
safeguarding your business’s future.
Follow COGO! For getting automatic updates of new webinars regarding funding options, and new business trainings hosted related to SBA.
