If you had to close your doors or stop taking orders for two weeks or two months, what would happen? Would you be able to recover? Would you be able to meet your payroll?
Would you be able to keep up with tax, insurance, lease, rental and mortgage payments for that long? Or would you lose key workers who would be very difficult or impossible to quickly replace?
Thousands of businesses face a similar crisis every year as a result of a natural disaster, man-made disasters, civil unrest, supply chain interruptions and a variety of other factors, including the COVID-19 pandemic that brought commerce to a near standstill in 2020.
About 25% of all businesses do not reopen after a disaster, according to the Federal Emergency Management Administration, and only a fraction of small firms get back on their feet after surviving an interruption of only a few weeks. The costs to their owners, and in some cases employees, can be enormous. Can Your Business Survive a Lengthy Interruption