Sometimes things go bad, and sometimes it happens to you- it could be an earthquake, hurricane, floods; the possibilities are numerous. While you cannot predict and prevent disasters from occurring, you can take steps to ensure that your business recovers from the tragedy. Here are some tips to help you and your business recover from a disaster.
- Take Steps to Ensure the Safety of All People on the Premises– The first step is such circumstances is to ensure that you, your loved ones and the people at your workplace are safe. Follow up on the instructions provided by the local authorities and adhere to them. If you are outside, finding a safe place should be your first priority.
- Report Losses to Insurance Company As Soon As Possible– Make a list of all damaged and destroyed items and report the losses to the insurance company as soon as possible. Keep this list safe along with the receipts of the new purchases. You will need this for the insurance claim, bookkeeping for small business and for filing tax returns.
- Take a Look at Your Expenses– The disaster means unexpected purchases and expenses, so take a look at your expenses and where you stand financially is important. Shut down any utilities that aren’t being used, review your budget, bookkeeping for small business and clear out unnecessary expenses.
- Avail of Disaster Assistance Loans if Needed– If you find that the damage is too much and you cannot meet the expenses, you could consider applying for a disaster assistance loan. The SBA gives loans to homeowners, renters, businesses and non- profits to replace property and equipment lost or damaged in natural disasters.
No one likes to be a victim, but when that does happen, all you can do is do your best to get things together.