Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Asset Management and Liability and other Small Businesses topics.

How much insurance do I need?

Make sure your suppliers are prepared!!

Use suppliers who have business continuity plans. Using suppliers with their own contingency plans makes you less vulnerable when disaster strikes. Especially if you use just in time delivery for your inventory. Have a supplier agreement for disruptions. Remember - 43% of businesses never reopen after a disaster (often due to impacts from a loss of inventory sources, distributors or communication systems).

Comments

Nobody has commented on this tip yet. Be the first.

Ask a Question

Not finding the advice and tips you need on this Small Businesses Tip Site? Request a Tip Now!

Guru Spotlight

George Sayour

Ever wonder how you could make your life better and more fun? So have tens of millions of fans who have turned to LifeTips for answers over the past decade. We keep the tips, advice, books, podcasts and writing services flowing, so you can keep your life and business growing in the right direction. Upward!