As the 2018 hurricane season ramps up in intensity, retailers with stores close to storm pathways are busy bracing for the initial impact and what may follow. As Hurricane Florence makes landfall in North Carolina and even threatens citizens and businesses far from that, retailers must think ahead to protect their businesses, according to an article from Forbes magazine.
“Hurricanes often cause billions of dollars’ worth of damage,” Forbes reports. “Even if your business has insurance, it likely will not cover all of the damages that your incur. Further, it could be a long and drawn out process to receive payment for your claims at a time when you can ill afford to wait for funding.”
One way retailers can get back up and serve their communities after facing damages to their business is by applying for a loan, like an SBA Disaster Loan, which provides low interest rates, according to Forbes.
In the wake of a destructive storm or any other natural disaster, there are several things retailers should do, like take photos of the damage, review their insurance policy and make sure records are backed up from computer onto the cloud, according to this article from the August 2017 issue of Hardware Retailing magazine.
Before your business is staring down the eye of an emergency, consider setting up a plan to be ready for any disaster that may come your way. Designate areas in the business for shelter depending on the types of storms common in your area. Run emergency drills once or twice a year to help keep everyone informed and gather supplies to have in a safe spot before a disaster. Utilize this resource from Hardware Retailing to help you prepare ahead of a disaster and to have a clear understanding of what steps to take after the storm has passed.