Prepare for the Worst, Plan for the Best: Disaster Preparedness and Recovery for Small Businesses

Chapter 13. Financial Liquidity

In the recovery process, you will address issues that were unresolved during the initial reaction to the disaster. You may have to resolve disputes with your insurance company regarding damaged property or other business losses. You may face the risk of increased insurance premiums as a result of the disaster. In this chapter, we consider how to work through those processes. The recovery process, however, is not just about unfinished business from the initial reaction to the disaster. Recovery is a forward-looking process. You will reflect on how your small business reacted to the disaster, what you learned from that reaction and what you will do differently in the future. You will almost certainly learn lessons that you can apply to your current and future business processes.

Now that the initial reaction to the disaster has passed, you are likely experiencing a range of different emotions. Those reactions were probably suppressed when you were busy trying to rebuild your business and resume operations. The frenetic activity occupied your mind and left you with little time to think about your losses. Now that you have some time alone with your thoughts to reflect on the experience, you may experience some disquieting moments. By now, your friends and family who were unaffected by the disaster have moved on. The disaster is no longer a news item. You are only just beginning to deal with the feelings provoked by the disaster. I will give you some advice ...