According to an infographic from Boston University, one out of four businesses does not reopen following a natural disaster. The reason is simple. Most companies are not prepared. The data tells us that 60% (nearly two out of three) small businesses do not have formal emergency-response plans despite the many direct and indirect losses that a natural disaster can cause.
Keep in mind, natural disasters can affect your business in many ways. For example, your office building could be damaged or any link in your supply chain could be affected by natural disasters around the world. In other words, just because you don’t live in Tornado Alley or a state known for its hurricanes or earthquakes, that doesn’t mean your business is immune to the effects of global natural disasters.
Did you know that your business can manage natural disaster risk by conducting a thorough risk assessment and business impact analysis? Once the risks are identified, you can document steps to mitigate them by investing in a comprehensive recovery plan. As the infographic below shows, every $1 invested in disaster preparedness can prevent $7 worth of disaster-related economic losses.
Is your business prepared?
Boston University Master of Science in Management Online
Susan Gunelius
Susan Gunelius is the Founder and Editor-in-Chief of Women on Business. She is a 30-year veteran of the marketing field and has authored a dozen books about marketing, branding, and social media, including the highly popular Ultimate Guide to Email Marketing, 30-Minute Social Media Marketing, Content Marketing for Dummies, Blogging All-in-One for Dummies and Kick-ass Copywriting in 10 Easy Steps. Susan’s marketing-related content can be found on Entrepreneur.com, Forbes.com, MSNBC.com, BusinessWeek.com, and more. Susan is President & CEO of KeySplash Creative, Inc., a marketing communications company. She has worked in corporate marketing roles and through client relationships with AT&T, HSBC, Citibank, Intuit, The New York Times, Cox Communications, and many more large and small companies around the world. Susan also speaks about marketing, branding and social media at events around the world and is frequently interviewed by television, online, radio, and print media organizations about these topics. She holds an MBA in Management and Strategy and a Bachelor of Science degree in Marketing and is a Certified Professional Career Coach (CPCC).
Follow Me:
