November 10, 2018

Business Interruption Prevention

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Employ the services of a professional accountant to:
- Prepare financial statements.
- Perform an annual audit of your books.
Maintain a list of secondary suppliers of materials in the event your primary supplier suffers a loss.
Be prepared with a plan of action as to how you will continue to service your customers while your premises are being repaired after a loss. This will help you to avoid losing your customer base. Consider availability of temporary premises where you can resume operations immediately.
Reduce the physical and moral hazards of your business.
Duplicate your business records and store them off-site; in the event that your premises are damaged, you will have documents to substantiate any business interruption loss.

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