Is your business prepared for a natural disaster or a significant economic downturn?

Is your business prepared for a natural disaster or a significant economic downturn? Is there anything you need to do to prepare?

Most large companies plan for things like these, but many small businesses just hope for the best. When you’re on the margin, hoping for the best is often the best you can do. When times are good, though, that’s when you need to be proactive:

1. Make sure you are not dependent on a small number of customers (diversify your customer portfolio, regardless of whether you are in retail or big-ticket sales.
2. Talk to your insurance agent to make sure you have the coverage you need, and
3. Talk to your bank about a line of credit.

Even if you do everything right, externalities can still surprise you. Your family and employees are counting on you.

Go get 'em

Ingar