Business owners and operators can suffer severe financial loss and damage to assets following a disaster or emergency event. This can have on-going repercussions for business viability and the capacity to continue operating. The impacts of business emergencies is far reaching and extends beyond the immediate business owner to those they employ as well as the broader economic community.
Some of the common impacts of emergencies on business and the economy include:
Tourism reduction – tourism vendors frequently report a decrease in visitors, particularly when emergencies occur around holiday periods. This in turn affects the local hospitality and retail sectors which are often the main fields of employment in rural and regional areas. The consequences can be loss of employment and a reduction of local spending capacity.
Loss of product - impacts can directly affect the capacity of business to continue operating due to damage, loss of product, clean up and repair costs and time.
Loss of transport and supply networks - services can also be disrupted by events which occur out of area but impact their vendors and suppliers. When floods, bush fires and major land slides occur transport routes can be closed or diverted. This can prevent access to essential supplies and/or the distribution of local product. It can also add additional transport costs due to transport diversions.
Disruption to telecommunication services - in todays world where we rely heavily on telecommunications and internet services the loss of our communications network can significantly impair the capacity for business to continue to operate.
Loss of personnel - emergencies can result in key personnel being unavailable as a result of their own personal impacts. Loss of or disruption to operations can also result in the need to reduce staff. Businesses thereby effectively lose expertise and experience at a critical time when it is most needed.
Disaster Mastermind provides Business Continuity Planning services which enable business to identify the risks they face in emergencies and develop effective contingency plans.
Disaster Mastermind also provides a broader economic planning service to enable communities, business representatives, Chambers of Commerce and Local Government’s to plan for emergency events and develop strategies to recover from and reduce the impacts of emergency events on the local economy.