3 Alarming Statistics Every Business Owner Should Know
As a business owner, you have a lot on your plate—bills, maintaining operations, etc. While those are important, it’s also important to prepare for potential disasters that might impact your business. In fact, disasters can—and often do—strike when they’re least expected. So whether or not you’re prepared, you’ll want to keep these statistics in mind!
- According to FEMA, more than 40% of small businesses never reopen after having a disaster. As we mentioned, disaster often strikes when we least expect it. That’s why many businesses don’t have contingencies in place. As a result, many businesses fail or are unable to reopen at all.
- In a study conducted by the NFPA from 2007-2011, wet pipe sprinklers worked 90% of the time, and they were effective in 88% of those instances. Fires can occur at any time for a number of reasons. While there’s no guarantee how much damage one will cause, a sprinkler system can dramatically mitigate its impact. Be sure to install one if it’s feasible!
- FEMA reports that from 2006-2010, the average commercial flood claim was over $85,000. Disasters can be quite costly, which is why it’s recommended that you get the appropriate insurance. Even if flood insurance might not seem necessary, it’s highly recommended; you never know when you might need it!
There are a lot of facets to consider as a business owner, but if you can dedicate a just a little bit of your resources to disaster prevention, you are more likely to keep it running even after a disaster. If you do have a disaster, call SERVPRO of Alexander & Caldwell Counties today at (828) 396-1070!