After experiencing a crisis such as a natural disaster, 1 in 4 small businesses never reopens its doors. Another 40 percent close shop within two years.
Sobering stats such as these are commonly touted by the Federal Emergency Management Administration, Labor Department and Small Business Administration. How can your business avoid a tragic end?
In the wake of the extensive hurricanes, wildfires and floods that have swept the country over the past year, SMBs should revisit or develop a business continuity plan to ensure that they are adequately prepared, should disaster strike.
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