Year-end Business Check-up No. 13: December 23, 2010Posted by Arieh M. Flemenbaum in Business, Business best practices, business check-up, business planning, Business succession - exit, Chicago Business, Legal Information.
Tags: Business, Business best practices, business plan, business planning, Chicago Business, small business
To help you complete a check-up and strategic year-end planning for your business, we will publish helpful tips and ideas through the end of the year. This tip is part of our ongoing series.
Business Check-up No. 13:
Develop & implement a disaster plan. Address the loss of a key supplier or customer, your data, inventory, equipment or even your workplace.
Too many businesses suddenly collapse because they have no plan in place to chaos that ensues after an unexpected disaster – whether it be a fire, loss of your computers, data, an equipment breakdown or even the sudden loss of a key supplier.
Every business should have a business disaster plan. Most people plan and hold drills for natural disasters (such as tornado or fire drills) and your physical safety is a priority. But is your business prepared to weather those same disasters? What will happen if your business has to move because of a fire or flooding? What if your files/computer system and/or data were suddenly destroyed? Is your business ready for the financial strain and will your business be able to carry on if your business lost its key supplier?
Be sure to have emergency contingency plans to address key and strategic files/data, business assets and equipment. Do you have back-ups in place? Once the physical danger has passed, do your employees know your plan to get your business back up and running as soon as possible?
Check for updates every week day through December 31st.
Happy Holidays from Griffith & Jacobson, LLC!
For information on how the business lawyers at Griffith & Jacobson, LLC can help your business grow, contact Arieh M. Flemenbaum at 312-236-8110 or by email at Contact Us (http://www.gjlaw.com/contact).