From : U.S. Small Business Administration
Location : Washington , D.C.
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Question :
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Thank you all for the great questions. I treid to answer as many as possible but did not get to everyone. I hope the info helpped and I wish all of you the best of luck with you businesses!
Lou Yepez
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From : DEBRA
Location : SEASIDE PARK , NJ
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Question :
I AM LOOKING TO SEE IF I CAN GET A GRANT FOR MY BUSINESS.. I HEARD THERE ARE GRANTS FOR WOMEN STRUGGLING WITH BUSINESSES... ARE THERE ANY IN NJ, I'VE HAD MY BUSINESS FOR OVER A YEAR
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Hi Debra,
I know the SBA can help, but first and foremost they will ask if you are a profitable business. If the answer is no then I thing it will be difficult to getr a loan through a bank that works with the SBA.
Please contact your local distric office that can give you a better answer or knows of other services that I am not aware of. I dont work fot eh SBA and I'm jsut a small busness owner.
Thanks,
Lou
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From : William H
Location : Madison , WI
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Question :
I assume you have a disaster response/recovery plan in place now for your buseinss. Do u test it? How does that work? Thanks!
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Hi William,
Honestly, I have not tested it becasue I feel very confident in the back ups im place. They run parallel to my current system so I kno wthat they are working every day.
Thanks,
Lou
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From : lawrence sandoval
Location : walsenburg , colorado
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Question :
I'm haveing a problem on makeing a summary of market research from the Industry
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Hi Lawrence,
Im not sure what industry you are in, but I would google the info and you may need to pay for a service depending on how much and how detailed you need it.
Lou
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From : samantha dehaarte
Location : miami , fl
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Question :
I want to lease resturant /bar
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Hi Samantha,
Congratulations. I hope it goes well, but I am focusing on disaster prepardness.
Good Luck!
Lou
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From : michael ball
Location : fort payne , alabama
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Question :
when was this web site established
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Hi Michael,
You question is too vague and I can't give you my best answer. Sorry about that.
Lou
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From : Mark R
Location : Lakeland , FL
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Question :
I've heard about business interruption insurance, but I don't know if it is worth the cost. Did your company buy that insurance?
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Hi Mark,
I didn't have it before, but I do have it now. My question to you is how long can you go without any income? If you can hold out then you may not need it, but if you need that constant income to cover operating costs that it may be a good idea.
Thanks,
Lou
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From : K. Terry
Location : Austin , TX
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Question :
How long did it take for you to rebuild your business, and what was the biggest obstacl in your recovery?
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Hi, K.
Great question. I answered a similiar question earlier and feel that my post should help you.
Thanks,
Lou
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From : Jane
Location : Cleveland , Ohio
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Question :
It says here to have a solid response plan. Where do I start, and how do I get my employees on board?
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Hi Jane,
Get people together to assess the risk around your business. I am running short of time and have answered this question earlier. I think my prevsious posts should help.
Thanks,
Lou
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From : Miller Z.
Location : Charlotte , NC
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Question :
My business is struggling right now, and I don't know if we have the additional cash it takes to prepare for a flood. What are some things i can do--for free--to protect my business
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Hi Miller,
I would move any high value items out of the flood area or get an idea on hoew much time it would take for you to move your goods before a flood was coming.
Recognizing your risk is free and more than half the battle.
- Lou
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From : Quintin S
Location : , Maryland
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Question :
Thanks!
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Your welcome.
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From : James
Location : Jacksonville ,
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Question :
How can I get loan to help me and my business during the recession?
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Hi James,
There is a brand new program through the SBA called ARC, America's Recovery Capital. Viable businesses can apply for and get loans of up to $35K. It is interest free and you don't have to repay until after 12 months. and paid back over a 5 year period. PLease go to the SBA website to find out more info. It is on the homepage at SBA.Gov
Thanks,
Lou
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From : Quintin S
Location : , Maryland
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Question :
these suggestions are great....but right now, with everyone struiggling in this down economy, it seems like trying to get ready for a disaster is one more expense that I can't really deal wtih now. i know its a hard sell. tell me why i should try to sqeeze out some extra cash (that i don't have) to do something like buy a generator, or get more insurance
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Hi Quintin,
If you can't afford some of the items you mentioned, then just as important and may be even more important is the ability to recognize the risks and the probabillity of them happening. This would allow you to take action and miminize the loss.
I hope that helps.
Lou
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From : Henry
Location : Portland , OR
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Question :
It sounds like you were really lucky. Having good customers is key to making it in any business.
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Henry,
I agree. Thank you.
Lou
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From : Sandy P
Location : Utica , NY
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Question :
How did you take care of your employees after the flood? What can i do to make sure they stick around?
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Hi Sandy,
Being funny, my response to your first question would be to keep them employeed. Now how you can keep them around, that my friend takes work and a sincere commitment on your part. Do your employees feel that you truely care baout them and that you go out of your way to make sure that have all the tools needed to succeed in your business.
If the answers are yes, then you are more than half way there.
The last part is do they believe that you have the skills and leadership to lead the company through the disaster and grow afterwards.
I hope that helps.
Lou
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From : Amy Hersh
Location : Denver, Colo. ,
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Question :
How do you know how much insurance to have for your business? I have a small retail shop in the downtown area.
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Hi Amy,
Not knowing your business or the items that you sell, it is tough for me to give you specifics. But , I would recommend that you contact several insurance companies and listen to what they recommend. Based off of their answers you should be able to detremine how much is enough.
Thanks,
Lou
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From : James Smith
Location : Tampa , FL
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Question :
Is there any type of insurance that protects your employees?
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Hi James,
That is a tough one for me. Im not an isurance guru, but would recommend that you contact the company the provides business insurance and ask them that questions. Thoughts that come to mind may result in you having the right insurance to protect yourself. Are the employees in a riskful situation and you don't take any action to minimize that risk....etc that is my train of thought based on your question.
Thanks,
Lou
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From : Henry
Location : Portland , OR
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Question :
Did all of your customers stick with you during your down period? How did you manage this aspect?
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Hi Henry,
Fortunately, yes all our customers stayed with us. I can only imagine that this was the results of years of good business and a solid relationship with them. We were always good with each other and they wanted to help us in what they could do.
Thanks,
Lou
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From : Charles S
Location : Santa Fe , New Mexico
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Question :
did you have flood insurance? is it expensive? and how do you find out if you're in a flood hazard area?
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Hi Charles,
I do have and had flood insurance. If you contact a local insurance broker and ask for flood insurance, they can provide you with a survey of the genreal area. This would give you an idea whether or not you are in a flood plan. Before you get a policy, they will asses their risk and also provide you with insite on how to prepare yourself. Remember, the less that have to pay the happier they are. So they will be happy to help.
-Lou
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From : Gene
Location : Sacramento , CA
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Question :
What are one or two things you would do different next time in the first day or so of disaster recovery?
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Hi Gene,
Before hand, I would hope to have had a plan that backs up my data, provides me with back up comms for the business and email.
Lou
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From : Gene
Location : Sacramento , CA
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Question :
What is your inventory is housed off-site? Because of the small space I have, many of the products I sell are kept at a shared locations with other local businesses. What do you advise?
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Hi Gene,
What is the level of confidence that you have in the location that your goods are stored in? Is there security, do they have a plan? If, how and when would they contact you if a potential risk was present that could endanger your goods.
Based of f of these answers I would take the appropiate actions.
Lou
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From : B. Stovall
Location : lexington , KY
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Question :
i suppose it is important to be prepared for any kind of disaster, but what is the best way to asses the risks that your property may face?
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Hi B. Stovall,
Take a look at your immediate surroundings. What type of businesses share space in the same building you are in? What types of businesses are in the nearby area that could affect you?...a gas company etc What is the crime rate in the area, weather patters, historic data.... all these things can help you better assess the dangers and propability of them happening.
I hope that helps,
Lou
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From : E. Boyer
Location : akron ,
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Question :
What is your take on the use of use of socal networking after a big disaster? How does a small busienss take advange of facebook or twitter to speed up the recovery process?
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Hi E.
That is a great question. In my case, I really was focues on my company and what I needed to do to get it uyp and running again. We didn't have heat, electricity of phone lines..so the though of Facebook really didn't come up.
Thanks,
Lou
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From : Nate
Location : Williamsburg , VA
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Question :
Luis, thanks for the information! That helps alot.
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Thanks Nate!
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From : Allan Jurges
Location : Chicago ,
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Question :
I'm thinking about putting together a team of people to help develop the emergency plans for my company. we are a small IT firm with 12 employees. do you have some tips on how to start, and what are the most important features we should include in our company emergency pplan?
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Hi Allan,
Great question! I would take a step back and brainstorm what are emergencies that could happen...think of weather, crime, potential dangers in the building, what type of businesses are around you that could pose a danger ie: gas company etc. Please note that it may be several blocks away but still a real threat.
From there, i would try to list the hazards by highest probability and then take actions of the most probable.
You will not be able to prevent or be prepared for everything, but just going through this process you are heads and shoulders about many of the small busniesses in America. Nice job!
Lou
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From : Henry
Location : Portland , OR
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Question :
How long did it take your business to rebuild after the flooding?
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Hi Henry,
We were out of commision for about 4-6 weeks and not 100% operational for a total of 3-6 months.
Thanks,
Lou
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From : P. Morton
Location : , Indiana
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Question :
Did your insurance coverage help you out after the disater? how much did you lose, and how did you recovery what you lost?
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Hi P. Morton,
I was able to recover some of my losses through insurance, but I want to point out 2 specific items related to flood insurance. #1 If items are in a basement chances are they will not be comvered. If you are not sure or think that your space is not in a basement, you need to find out soon. Durning a disaster is not the ime to findout that you are i a a flood area and a basement and are not covered.
#2 It can take a long time to receive funds. If you can imagine that you will not be the only one putting in a claim that needsto be nvestigated and processes. In other words, don't bank on receiveing an insurance check soon after you suffer a loss.
Thanks,
LOu
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From : Nate
Location : Williamsburg , VA
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Question :
do you have any good suggestions for record storage and data protections?
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Hi Nate,
Depending on how critical the information is, I would consider contacting companies that specialize in that field. One of the largest in the country is Iron Mountain. I know there are others but this one comes to mind.
Thanks,
Lou
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From : Gene
Location : Sacramento , CA
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Question :
How did you decide what to save and what to discard in the immediate aftermath of the damage?
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Hi Gene,
In my case it was pretty simple. I sell computer equipment and if it was underwater it was no good!
I wish I had a better answer but it was that simple.
Thanks,
Lou
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From : Everett
Location : , North Dakota
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Question :
What are some important lessons you learned after the flood? What is the most important thing a business onwer needs to do to prepare for a disaster?
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#1. Develop solid relationships not only with you rvendors and customers, but with each of your employees. If the employees leave, it may not matter how hard you want to overcome the disaster because you may not be able to do it alone.
Thanks,
Lou
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From : Mike R
Location : , Iowa
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Question :
What other resources can small business owners take advantage of to help prepare for a disaster?
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Hi Mike,
I would contact my local chamber of commerce and see what programs or seminares are available through them. Additionally, I would look through the SBA website that provides a wealth of information regarding SBA programs and assistance through the local distric offices.
Thank you.
Lou
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From : L. Alexander
Location : San Bernadino , CA
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Question :
I understand the SBA makes disaster loans. Right now i'm struggling finanically, and I don't know what would happen if we had a big earthquake here. What can i do, in terms of setting up a solid finanical base, to recover after a big diaster. I dno't know if I'd be in a position to take out a loan.
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L. Alexander,
I'm sorry to hear about your situation. Unfortunately, what I have to tell you may not be what you want to hear, but the SBA will provide assistance loans in various areas but the SBA requires that the business is in a position to pay back the loan. Many businesses are in need of help, but the SBA needs to procted the public's money and invest it as wisely as possible.
Goos luck.
Lou
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From : Louis
Location : Bend , Oregon
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Question :
Anything different about how you do business now, after having been through a big disaster?
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Hi Louis,
We definately ask the question of what can go wrong here and how will we prepare for it. The topic is fairly broad but examples are: Do I live in or near an area that can flood and if so what type of preparations do I do. Same from either hurricans, crime in the area etc etc.
Thanks,
Lou
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From : Paul
Location : Houston , TX
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Question :
As a new business how can one prepare for a disaster?
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Hi Paul,
Great question. I would suggestthat you look at a few diffrent areas that range from backing up your email, backing up critical information and any other items that are critical to you rbusniess. But most importantly you need to focus on you rpeople. I f your employees do not feel that you are capable of handling this type a disaster you will have two problems on your hand. Take care.
Lou
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From : Achea
Location : Hazel Park , MI
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Question :
what about insurance if your business is out of your home? is there a way to separate it and how do you claim separately?
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Hi Achea, I would contact your home insurance agent and ask them if you need a separate policy for a home business. I think that depending on what type of items your are selling or what processes you are conducting will require that have a specific type of insurance. For example: will there be truck deliveries, do the items cause a potential danger to people in the home or neighborhood. I hope that helps!
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From : Pam
Location : Grand Rapids , MI
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Question :
Were your employees able to draw unemployment or some other sort of compensation during this period of time? Did you retain all of your employees?
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Hi Pam, great question. I did retain all my employees. Because of that, they did not have to collect unemployment.
I paid them with some cash that the company had and also through lines of credits from my house.
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From : Debra Pigalargi
Location : North Port , Florida
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Question :
Hello. I started my small business last year. I used my own money to start it up which currently to date is probably close to 10,000.00 which was from my savings and credit cards. I would like to get a govt grant to use for my business so I do not have to use my own money to fund it. Where would I start looking for grants. My business is registered with the state of Fl and the town of North Port. I don't have a store front and I work from home producing beaded jewelry and other products. Can you guide me ? Thank you Debra Pigalargi
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Hi Debra, from my experience the SBA does not provide start up grants. Although start up loans do exist, but most importantly you will have to qualify and go through a SBA lender. SBA can assist in preparation loan documents and business plans. I hope the info helps.
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From : U.S. Small Business Administration
Location : Washington , D.C.
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Question :
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Good Afternoon everyone. My name is Luis Yepez and I’d like to thank you for taking time out to inquire about our company’s experience during a natural disaster. In summary, I am co-owner of Mainstream Global, Inc. in Lawrence, Mass. In 2006 while I was away on a business trip I learned that the Merrimack River had flooded. Mainstream Global is a distributor of integrated circuits and computer products, was housed on the banks of the Merrimack and sustained severe water, debris and sewage damage. After losing hundreds of thousands of dollars in inventory, the company received a disaster loan from the SBA, which helped Mainstream Global stay in business.
I will do my best to answer as many questions as possible and only request that we all try to stay on topic as best as possible.
Thanks and lets get started!
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