Posts Tagged "contingency plan"

When Things Go Wrong

Posted by on Sep 18, 2013 in Blog

When Things Go Wrong

Running a business doesn’t separate you from life, nor the world around you. Things can – and do – go wrong. Minor things occur; you get sick, a piece of machinery breaks down or your modes of communication fail, leaving you with no way to connect with the outside world. These issues are relatively easy to overcome, even if they do take a few hours or even days to sort out. You get better, your machine is fixed or your communication issues are resolved. Unfortunately though, you’re not immune from bigger things happening, such as: Critical illness Criminal damage Economic crisis Natural or environmental disasters (e.g. fire or flood) Prolonged disruption to power, communications or essential materials Your Emergency Contingency Plan The extreme situations are often unexpected and can arise at the worst possible moment. You not only need to be prepared for them, but also have strategies in place to overcome them. Legal Responsibilities – it’s a good idea to have a chat with your solicitor about your rights and responsibilities towards your clients and customers, staff and suppliers, as well as any leases, contracts and insurance policies. Banking and Loans – speak to your bank about possible scenarios or, if you’re in the...

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