Safe in a Storm: Protecting Your Assets

Safe in a Storm: Protecting Your Assets

Miscellaneous/Others

SIKAP By PDRF

SIKAP By PDRF

27 Jan 2022, 14:02 — 4 min read

The Philippines is one of the world’s most disaster-prone countries and when typhoons, floods, earthquakes, and landslides strike, every aspect of society is placed at risk. While one cannot control the forces of nature, one can put into place measures to mitigate the worst effects. Protecting one’s business in such circumstances can be a huge challenge but if one knows how to plan and prioritize, one can be better prepared to face these obstacles.  

 

Securing your assets during a disaster can be a tremendous challenge and you must prepare as much as you can beforehand to prevent your materials, equipment, and products from getting destroyed. While you may not be able to save everything when a particularly vicious disruption occurs, by taking some precautions and making the right choices you will be able to still save some of your assets so that your business can recover after a calamity.  

 

Here are some tips to help you protect your assets and minimize property damage:  

  • Maintain and update your inventory of items and equipment. It is recommended that you have photos of each asset and that you secure the inventory files off-site.

 

  • Review your insurance coverage and make sure that your existing insurance policy covers disaster situations. Conduct a risk assessment to identify if you will need additional coverage.

 

  • Make sure that everything is backed up. Organize and store all important paperwork in an off-site location and make copies if necessary. Some documents you will need to keep safe are insurance claims, payroll information, and tax forms. Also, make sure that you regularly backup critical software and data.

 

  • Keep your servers and other vital equipment in the protected areas of a building, preferably in places that are resistant to natural disasters such as storms or earthquakes.

 

  • Reinforce the vulnerable areas of your buildings by adding supports to garage doors or bracing and strapping the roof.

 

These tips mostly apply to physical assets but of course, every business has vital data that needs protection as well and all these steps should be a part of your business continuity plan.  

                                                                                                          

Stay tuned for more practical tips and advice on how you can keep your business #SafeInAStorm #SIKAPMSME #ResilientMSMES #ResilientPH   

 

Also read: Safe in a Storm: Protecting Your Data

 

Image Source: Canva

 

DISCLAIMER: This article is strictly for general information purposes only. Nothing in this article constitutes or intends to constitute financial, accounting, regulatory or legal advice and must not be used as a substitute for professional advice. It is still necessary to consult your relevant professional adviser regarding any specific matter referenced above. The views and opinions expressed in this article are those of the author and do not necessarily reflect the views, official policy or position of GlobalLinker.

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