Carry on, pause, or exit your business
During the recovery effort it will be necessary to continue operations as much as possible.
Organise your employees to relocate to your temporary office accommodation; this can be a temporary business centre, hotel, someone's home or an office provided by a service provider.
If your business is damaged but your stock is unaffected, consider alternative shopfronts. For example, use your existing website to trade online, or consider setting up an online shopfront through an existing online auction or global marketplace website.
Once you have updated your finances and recorded what it will cost to repair or rebuild the damage, decide what it will take to recover your business.
If you're not sure you'll recover and you have spoken to a business advisor about your options, you may decide its time to take a break from the business while you rebuild.
In some circumstances, the only available option may be to exit your business.
While you focus on recovery, make sure you don't neglect the day to day running of your business, including daily cash and stock management and accounts. If you're severely affected, consider a virtual office service to help maintain a professional image to your customers.
What to do...
- Contact your local council for disaster-related assistance including possible temporary business centres.
- Talk to a business advisor for advice and assistance. Search Advisory Services to find an adviser nearest to you.
- For information on how to exit your business, see Sell your business or Closing your business.