Most businesses carry insurance to protect themselves against unexpected losses. What these companies didn’t realize when purchasing a policy is that the fallout from a pandemic isn’t usually a covered problem.
Thousands of businesses around the world are listed as non-essential during the COVID-19 pandemic. That means employees get furloughed or laid off, owners lose revenues, and the rent remains due.
Having a disaster recovery plan template can help an organization of any size recover quickly when an economy reopens for business.
You Can’t Rely on a Government Bailout!
Billions of dollars in government support were made available to American businesses as a response to the COVID-19 emergency. Some of those funds are 100% forgivable if the money gets used to make payroll. Low-interest loans, some at 0%, are also part of the package to keep companies operating.
The reality of today’s business climate is that this money is not a survival guarantee. You need to have a disaster recovery plan template to fill out.
It’s like having a backup business plan that you can implement if regular operations get disrupted for some reason.
Imagine if you wanted to support better health and wellness at home, but you didn’t have products from brands like Argentyn 23, Heritage Store, or Sovereign Silver. If you don’t know what resources are available, then you must wait for outside help.
Having access to resources that you can use immediately enables you to be one of the first businesses that open its doors when the pandemic is over.
What Resources Are Available Right Now?
The Small Business Administration provides access to numerous loans and grants that can keep a business operational during an emergency. Planning for this bureaucracy must be part of your disaster recovery plan template.
Business grants of up to $10,000 are available through Hello Alice through funding from partners like Salesforce.
Most cities are launching recovery programs that can offer solutions that can keep small businesses operating. You’ll want to speak with your Chamber of Commerce to discuss what is available.
Online lending programs provide up to $1 million to affected companies. Many providers are waiving payment requirements until the emergency is over.
If you don’t have a disaster recovery plan template available, then your business is at a higher risk of failing. Although no one expects something as massive as COVID-19 to impact the global economy, planning for the worst-case scenario can help you to get back on your feet faster.