Why Every Business Needs a Recovery Plan
By Steven Harris, CPA, special to Overdrive and partner-in-charge of the RubinBrown Entrepreneurial Services Group
As the summer months continue, areas of the nation are facing different natural disaster threats: wildfires, floods, tornadoes and hurricanes. While these disasters have wide-ranging consequences for all, businesses also see the effects of natural disasters, and, often times, are not prepared for the aftermath.
In fact, according to a study by the Institute for Business and Home Safety, an estimated 25% of businesses do not reopen following a major disaster, stacking the odds against them. So, what should a business owner or organizational leadership do to prepare?