FEMA reports that up to 60% of small businesses will never open after a disaster and 90% of those who have to close for five days or more will eventually fail within a year.
Disasters come in all forms, whether it is natural like tornadoes and hurricanes, or manmade disasters such as identity theft and hacking. Regardless of the size of the company, all businesses should have a disaster plan in tact to prepare for the unknown, and most of the time that means having an alternative workplace ready to go.
Coworking spaces are ideal for these scenarios as it relieves the company of every day office operations so they can focus on operating their actual business. Flexible workspaces are fully-furnished and ready to go, so workers already have a place to report to when a disaster happens.
Having a plan ready to go keeps your employees jobs secure, raises the confidence of stakeholders, reduces financial burden and keeps the company’s reputation afloat.
When creating a disaster recovery plan, companies should identify which employees are critical to keep operations going, critical departments that play a significant role in generating revenue and do a test run to ensure that the plan is effective.