Emergencies can happen anywhere at any time.
Businesses are exposed to a multitude of hazards and vulnerabilities, from hazardous material and chemical incidents to major accidents and pandemics, terrorist activity, structural fires etc. Natural disasters in particular are inevitable, unpredictable, and significantly impact communities and the economy.
It is important to plan ahead for such events, which have the potential to significantly affect the viability of businesses both small and large. Amongst other things they can cause:
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Physical damage to buildings
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Damage to or breakdown of machinery, systems, data, or equipment
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Restricted access to a site or building
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Interruption of the supply chain including failure of a supplier or disruption of transportation of goods from the supplier
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Utility outage (e.g., electrical power outage)
Even where businesses can navigate or altogether avoid these direct impacts, they can still suffer from the absenteeism of essential employees who were affected by the emergency, a short-term or sustained decline in revenue, and additional expenses.