Disaster Planning
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No business owner or executive likes to contemplate a disaster occurring to their company. But whether it's flood, fire, tornado or deliberate attack, the question to be asked is, "How quickly could your business get back on its feet after such an event?" If you have to pause before answering, some basic disaster management planning is necessary to protect a business investment and give your company a better chance at disaster recovery.

Businesses need to plan for a variety of disasters to determine what procedures and practices are required in preparation for an emergency event. This ranges from a loss of data or crashed computer system to larger issues like natural disasters.

  • Stay Aware - Stay on top of the types of emergencies that your company might confront. Expect the unexpected.
  • Plan for Emergencies - This might be as small as a stolen laptop or as large as a hurricane. Know how your business functions and flows, keep track of all your suppliers and vendors, establish a contact list and coordinate (and involve) all areas of your company in planning.
  • Stay or Go? - You need both an evacuation plan and a plan for staying in place during a threatening event.
  • With Smoke Comes Fire - Since fire is the most common business-related disaster, prepare by making sure you are doing everything you can to prevent fire from occurring in the first place.
  • Include Your Whole Team -Involve employees from all levels in planning. Set up phone call trees, run drills and share printed and electronic details about your company's disaster plan and procedures.
  • Prepare a Crisis Plan for Before, During AND After an Event - Everyone should have a copy of your plan and know how to implement it. Employees also need to know how to communicate and what steps to take before, during and after a disaster, regardless of its magnitude.

Depending on your company's size and means, preparing for potential threats or business interruptions does not have to be as involved as creating a complete business continuity plan, but the more you can organize now the better your business will perform. Disaster management is what occurs long before any event, not during the crisis itself.

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This information is general in nature and is not intended to be legal, tax, or financial advice. Although Regions believes this information to be accurate, it cannot ensure that it will remain up to date. Statements or opinions of individuals referenced herein are their own—not Regions'. Consult an appropriate professional concerning your specific situation and irs.gov for current tax rules. Regions, the Regions logo, and the LifeGreen bike are registered trademarks of Regions Bank. The LifeGreen color is a trademark of Regions Bank.