Finding ways of avoiding a business disaster isn’t a guarantee, but it can certainly help. Anything can happen at any time, and you need to be prepared, yet most companies aren’t. Depending on the size of your business, there are a few things you can try. Even one of these will help avoid some of the most common issues that plague modern businesses today. So, from developing contingency plans to auditing the plans you already have in place, here are some suggestions.

Keep an Eye on Utilities

There are different types of disasters that can befall your business. Some of the most unexpected come from within, including physical hazards. Something like the power going out can have a profound impact, including wiping data. Others include other utilities like water and heating. A tankless commercial water heater replacement will help avoid any issues altogether. So, it helps to be proactive rather than wait for a complete disaster to strike your company.

Avoiding a Business Disaster with Contingency

You never know what will happen, so you need plans for business continuity. These will help keep your business up and running after something happens. This is critical as a business disaster can be devastating. In fact, 80% of the companies that don’t have contingency plans fail to recover and close within 18 months. Contingencies include being prepared when a disaster happens, training employees about what to do, and ensuring business can carry on.

Invest in Cyber Security

Some of the most common disasters that happen today are cyber-related. Cyber incidents aren’t always in the form of an attack. Often, they can come from internal mistakes such as poor passwords, unguarded data, and laptops being left on trains! However, no matter the size of your business, you are susceptible to an attack. Modern cyber attacks are most likely to come in the form of phishing, ransomware attacks and DDoS. You must take cyber security seriously.

Have a Backup Procedure in Place

Cyber security issues can lead to the loss of data. So, too, it can be a physical disaster. Either of these could potentially destroy your business. Data loss can also land your company in legal hot water and liable for any damages. Therefore, backing up all data is absolutely necessary:

• Identify the leading cyber security risks to your business.
• Maintain a backup policy, such as daily, that suits your company.
• Store backups on various media such as cloud, removable and physical.
• Automate the backup process using AI to protect your business.
• Appoint a team or IT professional to ensure backups are completed.

Most businesses rely on data these days. Internal and customer data are both vital to operations. The loss of either will obliterate a modern company, so backups are critical to carry on business.

Hold the Necessary Insurance 

The costs of a business disaster can be astronomical, especially if you aren’t prepared. Whether you like paying for it or not, insurance can be a lifesaver. It’s better to have it and not need it than to need it and not have it. Fortunately, you can find business insurance that covers pretty much anything you can imagine. This includes common issues such as loss of business and uncommon events like a terrorist attack. However, of course, these will cost more money!

Avoiding a Business Disaster with Audits

It’s a mystery why most businesses don’t plan for emergencies well. In fact, only 3% of modern companies have a full-time team to deal with a crisis. Yet even with an appointed emergency team, you still need to ensure any emergency plans actually work. Auditing your plans can help. Contingencies and emergency plans should constantly be tested on a regular basis. This includes fire drills and simulated terror attacks or what to do in the event of a cyber attack. 

Keep Emergency Equipment Maintained

Your business has a legal mandate to install and maintain emergency equipment. With a team in place, emergency equipment can be tested as part of regular audits. This includes alarm systems, evacuation procedures and devices such as fire extinguishers. It also helps to ensure the safety of potential hazards. You may be required to carry out PAT tests and gas checks depending on where you operate, like in the UK. These will help reduce the chances of a hazard.

Summary

Regular inspections of utility systems such as water and electricity will help form plans for avoiding a business disaster. Backup procedures for data are vital for resuming business when something happens. Keeping emergency equipment maintained also helps reduce hazards.