It’s bushfire season and while you may think your business is safe from the inferno of flames currently burning right across NSW, it is time to stop and consider what you would do if your business was at risk?
If an emergency happens and you are at work, your first priority is safety - for you and your employees. Then you can look at protecting your business and assets.
Firstly, check your business’s emergency procedures. Do you have a process in place? Have your staff been briefed on what to do? If so and you need to evacuate, follow the advice of emergency services personnel via phone or in person. Switch off any utilities and where possible board up windows, cover entryways and hose down what you can.
Be alert and stay on the following Government social media channels and website.
Assess the impact on your business and prioritise your business recovery. There may not be much time for this if disaster is imminent, so have a Business Recovery checklist ready.
Some things to remember:
- What resources will be affected?
- Reassess the market and your position
- Update your financial documents to include costs of recovery
- Communicate with utility providers and arrange disconnection and re-connection
- Research short term finance options
- Talk to your debtors and chase up any outstanding payments to assist with recovery costs
- Consider any assets that you can sell
- Speak with your insurance provider
- Talk to your suppliers and devise best short term and long term solution
And finally, seek help. Talk to your accountant and/or business advisor about your financial position and business future.
By Rebecca Roach, Director, Roach Morgan-Jones