Having clear directions is one of the simplest and most powerful tools for a fast recovery. Identify what needs to happen if a crisis or disaster occurs and who is responsible for each action. Make sure your insurance is enough to cover you in the event of a significant disruption to your business. Insurance is one way to reduce the impact of an event or disaster.įor example, business interruption insurance can make sure that you receive your average earnings for the insured period until you're able to start operating again. For some risks, it might be as simple as installing an alarm system or buying extra personal protective equipment (PPE). Some risks are preventable, so eliminate or minimise these where possible.

Prioritise your risk planning based on the results of your assessment. Some risks will cause major disruption while others will be a minor irritation. Follow these steps to create a risk management plan that's tailored for your business.