Hurricanes, earthquakes, floods, freak accidents – there are a myriad of natural threats to your business assets every day. How can you protect against them? While you may not be able to control the weather, natural disasters don’t have to be a world-ender for your company. Here are the three aspects of your business to protect, and how to safeguard them from irreparable harm in the case of freaky weather.
Data Protection
Digital assets are essential to your company’s survival. From having an IT disaster recovery plan is crucial to protecting your company from losing precious information. Here are a few key elements to a great virtual disaster plan to get you started:
- Invest in a qualified managed IT service provider to monitor potential threats to your system 24/7
- Establish a business continuity plan with a qualified managed IT service provider
- Keep your data backed up and archived to prevent data loss
- Protect sensitive data with remote offsite storage
- Use virtual servers to reduce downtime in case of a crash or loss of power
Physical Assets
When it comes to your company’s physical assets, it’s just as important to keep a watchful eye on potential threats. Your most valuable assets, like buildings, machinery, and electronic equipment, can be protected financially with comprehensive insurance policies. Proper maintenance and fortification of structures within your facility can also be an important part of preparing for the worst. You may want to consider hiring a professional to conduct a risk assessment to let you know what needs the most attention today to be prepared for the storms of tomorrow.
Rainy Day Fund
Just as important in business as in personal finance, a rainy day or emergency fund is important to keep up to date. Knowing that you at least have the money you need to keep the lights on and your employees paid can give you peace of mind when something unexpected happens. If you’re not sure where to start, ask a trusted CPA or financial advisor for advice on a monetary goal for this emergency fund. When disaster strikes, use your rainy day fund for repairs or making it through your recovery period so that your company isn’t crippled by an unexpected event.
When considering how your company assets might be affected by natural disasters like earthquakes and floods, it’s important to remember that professional help is always available. Spending the time and resources now to figure out how to protect your business in a disastrous event can make your company more resilient and prepared for the future.
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