Wyoming Edition 2020—U.S. Small Business…

FUNDING PROGRAMS

DISASTER ASSISTANCE

Six essential preparedness steps for creating a continuity plan The financial and emotional cost of rebuilding a business after a disaster can be overwhelming. With a business continuity plan in place, you can recover more quickly.Your plan also puts you in a better position to contribute to the economic recovery of your community. Getting Back to Business:

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Establish a communications plan

• Test your calling tree or communications list to reach employees to ensure they and their families are safe.

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Protect your documents

Review insurance coverage

• Contact your insurance agent to find out if your coverage is right for your business; make sure you understand the policy limits and deductibles. • Ask about business interruption insurance, which compensates you for lost income and covers operating expenses if your company has to temporarily shut down because of a disaster.

• Keep copies of vital business documents in a digital format or in an accessible, protected off-site location.

Establish a solid supply chain

• If your vendors and suppliers are local and the disaster iswidespread, youwill all be in the same situation— struggling to recover. Put a disaster response plan in place to get key supplies fromcompanies outside your area. Create a contact list of contractors and vendors you plan to use.

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Practice your plan with your staff Based on your location, assess your risk for every type of emergency. • Discuss as a group howyour planwould be affected by different types of disasters, such as an earthquake, tornado, flood, mudslide, or hurricane.

Plan for an alternative location • Identify several places to relocate your operations in case youmust close your primary location for an extended time. • Consider creative options for available office space, including sharing space and resources with other businesses. • Allowemployees to telecommute until your location reopens.

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