How To Make Your Small Business a Disaster Survivor Not a Disaster Victim
Not many people know that small businesses are the economic backbone of The United States economy. They represent 99% of the total number of firms in the country at 27.9 million based on SBA data. This compares to only about 19,000 firms that have greater than 500 employees. And small businesses employ approximately 49.2% of the private sector workforce. For every large business like Apple and Microsoft, there once was a fledgling small business that started in someone’s garage or a back office that grew into a behemoth because of hard work, and sometimes a little luck. However there are also stories of flourishing small businesses that were on a great trajectory that failed because their owners did not properly prepare for disaster.
So why don’t more small businesses develop Business Continuity and Disaster Recovery Plans? Time and time again, you see communities put under stress of a natural or man-made disaster and many small businesses are significantly impacted and just never recover. Following the horrific events of 911 we all learned to prepare ourselves for the new norm and developed family response plans and kits that include flashlights, water, canned food, etc. Why don’t small businesses develop Business Continuity Plans (BCP) to deal with the new norm of climatic change and potential terror events? The logic is the same. I would offer your reasoning is even stronger. Your business disaster response and recovery plan not only impacts your own family’s ability to recover economically from a disaster but also your employees. Your workforce depends on you to be prepared. Don’t let them down. Regardless of the “why”, we have seen an increase in the number and severity or weather-related disasters in the recent past. Knowing the risks you face as a business owner and being properly prepared are more important than ever today.
Getting prepared is not hard whether you want to do it yourself or hire a third party. There are some simple templates that you can use. And, it is surprisingly affordable to hire experienced professionals to do risk assessments and help you develop business continuity plans. A well-developed BCP and some strategic hazard insurance may be the deciding factor between your business’s ability to fully recover or complete failure. It can also be the deciding factor if your employees can recover for themselves and their families.
Communities that emphasize BCPs for their chamber of commerce members are stronger and more likely to successfully survive a major event. Restarting a community’s economic engine is one of the top priorities for federal response entities following major disasters. Doing so helps a community regain and retain its independence, pride, and self-respect. It helps people to get “back to normal” and heal emotional scars.
At Kymber Consulting Group, we can help your small or large company or your community develop Business Continuity and Disaster Recovery Plans. Our subject matter experts have helped companies from most economic sectors domestically and internationally. Give yourself, your family, your employees and your employee families piece of mind. Talk to KCG and let us help you understand your risks and vulnerabilities and develop an appropriate recovery plan.”