Interesting Tidbits 12/21/12 – An Ounce of Prevention is Worth a Pound of Cure.

End of WorldThe world didn’t end today; I guess the day is young so I’ll wait and see. In the meantime, here is some things to ponder for the next potential disaster.

First, software vendor Sage North America finds 62% of small businesses don’t have a formal  business continuity, emergency or disaster preparedness plan in place. The good news is  that 94% of small businesses back up their financial data (84% do so weekly), but the bad news is that 79% say they store this data on site. May I suggest a very inexpensive safe deposit box at the Banner Bank on 10th & Bannock here in Downtown Boise, Idaho. Perhaps that is one reason why the Insurance Information Institute finds up to 40% of businesses affected by a natural or human-caused disaster never reopen. has some very useful information regarding being prepared for a man-made or natural disasters.

Second, do an analysis of the areas of your business that a disaster might impact. Identify and document things you’ll need to have and areas where you might need to improve. Next, develop a true plan, see where things might not work as expected and learn what to do. The last thing a small business needs when a crisis hits is uncertainty. Make sure to test and maintain your plan. 

If you were my client, this would be a very important piece of your overall operations. The more confident I am in your capabilities, the more confident I can be that you’ll repay your loan and remain a customer for decades. No one knows when a disaster may occur, but helping my customers prepare is one way I limit my risk and theirs.

The government suggests people have enough food, water and other supplies to last for at least 72 hours; but as we have seen from Hurricane Sandy and other disasters, a few weeks is probably better.


Branch Manager that has worked in the small to medium sized business lending field. I have experience in all types commercial lending and I'm here to provide insights from a lender's point of view. I hope to impart some knowledge that can take your business or profession to the next level. I currently work as a Branch Manager at the 10th & Bannock Office for Banner Bank in Boise, Idaho.

Posted in Advice, Business, Business Continuity, Business Plan, Disasters, Preparedness Plan, Risk

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