Manual Business Checks Could Be Lifesaver in a Storm

Hurricane Sandy, a post-tropical cyclone at landfall, hit the eastern seaboard with staggering force on October 29, 2012. While it affected 24 states, the damage was most profound in New York and New Jersey. The numbers for this “Frankenstorm” clearly tell the story of its strength:

  • 8.5 million customers lost power
  • More than 200 people died
  • 305,000 housing units were damaged or destroyed in New York
  • 72,000 New Jersey buildings were damaged
  • $2.2 billion in disaster loans approved for NY, NJ, CT and RI

In addition to the tragic loss of human life and physical destruction, when a major storm strikes, there are massive financial and economic impacts that must be dealt with. Whether due to power loss, physical damage, or the inability to ship/receive products, companies big and small will lose money every day they are unable to conduct business as usual. While debilitating storms like Sandy and the recent EF5 tornado that devastated Moore, Oklahoma in May, 2013 are rare, what lessons can your business learn from them? Let’s look at some ways to help protect your organization, get emergency relief if needed, and keep your business from going under when water and winds rise.

Manual Checks and Other Alternative Solutions to Automated Systems

The price tag of Hurricane Sandy is estimated at $71 billion dollars. As a result, the Small Business Administration continues to play an instrumental role in recovery. Recently posted on their website, the SBA has approved more than 34,000 disaster loan applications, totaling $2.2 billion. In terms of SBA disaster lending, this makes Hurricane Sandy the third largest natural disaster in U.S. history. SBA’s financial support has allowed businesses and homeowners the ability to reopen and rebuild. An additional $19 million in grants will be issued to SBA resource partners for small business training services and expanded counseling.

In addition to obtaining proper business insurance, consider some key strategies in the possible event of a natural disaster. Taken from “Hurricane Sandy: 8 Small Business Lessons Learned,” Forbes contributor Dan Simon shared a few tips that personally helped his company during Hurricane Sandy, summarized below: