What Permanent Changes Do I Need to Make to My Business to Prepare for the Next Pandemic or Disaster?
What Permanent Changes Do I Need to Make to My Business to Prepare for the Next Pandemic or Disaster?
The health care community and the government may take some lessons from the COVID-19 pandemic about preparing for another disaster or pandemic. However, business owners also need to take a close look at the consequences of the pandemic, and the lessons that they can learn. Preparing for a natural disaster, pandemic, or other interruption to business can means the difference between shutting down forever and rebounding after an unexpected event.
Preparing Your Business for Emergencies
Disasters can take many forms, such as: pandemics, floods, hurricanes, and fires. Creating a business emergency plan begins with assessing the company’s risk for specific disasters, including: pandemics, natural disasters, thefts, and cyber-attacks. A threat is any event that can prevent your business from operating normally.
Consider which disasters will most likely impact your business and prevent you from returning to normal operations. Remember to include all types of events. Many business owners never considered a pandemic as a threat to their business before COVID-19.
Creating a Business Interruption Recovery Plan
When there is an emergency or disaster, the first thing you need is a communications plan. You need to update your employees, customers, and clients on the status of your company. Create a notification system that includes several ways to communicate. Examples might include:
- System to reroute calls
- Posting updates on your website
- Email updates
- Automated text messages
- Establishing a hotline or call center
- Using social media accounts
Because your vendors and partners may not have a disaster or an emergency plan in place, you may need a backup plan to obtain supplies and materials. If your suppliers are local, they may shut down because of the same disaster that is impacting your company.
It is also wise to have a strategy in place for a second working facility. If your building is destroyed or damaged, can you move operations to another location? Having a detailed plan that addresses a move of operations makes it easier and quicker to move, set up, and continue the business.
An effective business interruption plan also includes financial support. Business interruption insurance is one step a company can take to ensure it has the funds necessary to get through a disaster or pandemic. Access to funds is a priority for business continuity.
Critical employees are another consideration during a disaster or threat. Owners need to consider how they would continue operations if key employees could not work. Cross-training is one way to ensure continuity.
The above elements are just a few of the topics that a business continuity plan should cover. Working with your business lawyer, accountant, and other professionals can ensure that your plan covers all elements required to survive a threat or disaster.
Contact Our Coral Springs Business Law Attorney for Help
A business continuity plan includes recovery strategies. Recovery strategies require facilities, people, equipment, materials, and funds. Creating a plan can help ensure that your company successfully recovers from an unexpected event. However, creating a plan can seem overwhelming. It can be difficult to identify each element that the plan must cover.
A business lawyer can help you evaluate your business operations to determine what steps you should take to protect your company in case of a disaster, pandemic, or cyber-attack.
If you have questions about business planning or other business law matters, contact Attorney Matthew Fornaro. Call 954-324-3651 or contact us online to schedule an appointment with a Coral Springs business law attorney. Having sound legal advice before a disaster or problem arises is often the best way to protect your investment.
