- November 19, 2013
- Posted by: admin
- Category: Financial Intelligence, Small Business Accounting
While one may think disaster preparedness in one of the most covered topics in business, you will be surprised just how many small and even thriving businesses fail to prepare for unforeseen events.
A lot of entrepreneurs do not realize that storms are not the only threat to their livelihood. The good news is, it is never too late to take the necessary steps in order to reduce the impact of any disaster and define processes to allow your business to be in operation as soon as possible.
The Role Of Your Melbourne Accountant
It is important to closely coordinate with your Melbourne accountant to set up funds for disaster preparation and recovery. How you deal with a disaster can potentially spell the difference between retaining customers or end up losing them forever. In fact, it could very well mean the survival of your business.
Aside from coming up with a crisis plan and identifying an emergency team, you need to work with your Melbourne accountant in setting up a financial buffer. This is especially important for businesses that are operating with limited budget.
One of the common threats in times of calamities is data interruption. For years, this has resulted to loss in significant amount of revenue. Make sure to take necessary measures to protect data and work with your Melbourne accountant in setting up a budget to ensure all data needed in your operations are properly secured.
A disaster will m0st likely affect your company cash flow. Work with your Melbourne accountant to come up with a contingency plan to allow your business to return to operation as soon as possible.