Gambling isn't the only risky business--Weather is too

Extreme weather is risky business

Thomas M. Kostigen, Special for USA TODAY

Nearly two-thirds of small businesses do not have an emergency plan in place for their businesses, according to an Ad Council survey. Moreover, 40% of businesses affected by natural or man-made disasters never re-open, an Insurance Information Institute study found.

Disaster disruption to businesses has become so chronic that the U.S. Small Business Administration has even helped create a web site, preparemybusiness.org, to help businesses protect employees, lessen the financial impact of disasters, and re-open more quickly after a disaster.

Natural hazards pose a $1.2 trillion loss to the economy through 2050, according to a Department of Homeland Security official's testimony before congress earlier this year.

Whether freak storms in Phoenix, or a longstanding drought in California, or damage from hailstorms in the Midwest (whose annual economic damage now regularly tops $1 billion), extreme weather is risky business.

There are five areas FEMA recommends businesses focus on:

Program management. Different ways to organize and administer a preparedness program.
Planning. Assessing risks and analyzing methods to prevent hazards.
Implementation. Setting tactics for emergency response, crisis communications, and business continuity.
Training. Testing and evaluating plans -- and learning new ones
Improvement. Reviewing plans frequently to make changes and/or make them better.

http://www.usatoday.com/story/news/nation/2014/10/04/extreme-weather-business-impact/16701599/