Ivy Hartman: Whether it’s an unexpected road closure or planned road construction or a natural disaster whatever it is you need to make sure that your business is prepared for a business interruption.
Many cities are closing major highways and roads in order to replace the existing infrastructure. Small business owners in one city are coping with a major highway shut down near there businesses. In this follow up story we find out how these businesses are appearing during this construction.
POPtions is a one of a kind personalized popcorn store that opened within the last year. Andrew Freundlich, owner of POPtions said he is filling a recent pension sales because of the economy not because of the highway closure. Right next door to POPtions is Schneithorst and they’ve been in the same location for 50 years. And they survived some lean times in there business. By Tuesday they are appealing a pinch front end and the back end of their business with people cutting back on how often they eat out and high fuel prices are driving the cost of food and supplies.
General Manager Steve Stockhausen says sales are lower than he expected, but he remains optimistic with the highway re-opening will coincide with an upswing in the economy and bring in more business.
As a small business owner it’s important to know what you can do in order to protect yourself in the event of a business interruption. Now Kansas Insurance Commissioner Sandy Prager is also the President of the National Association of Insurance Commissioners. And she recommends that the best thing you can is to be certain you’re insured properly.
Sandy Prager: Make sure you have adequate coverage.
Ivy Hartman: You can also make additions to your property insurance policy in order to cover your business in the case of a natural disaster.
Sandy Prager: When your business is put out a business for example some sort of a natural catastrophe you still are going to have bills to pay, but business interruption coverage will help you get through that period of time until you can get your business up and running again.
Ivy Hartman: If you think you have an insurance to help you through a business interruption you want to double check.
Sandy Prager: Read the policy you know I can emphasize that enough. Read the fine print because you may think when you buy that business policy that something is covered then it may not be maybe specifically excluded in the fine print.
Ivy Hartman: An ounce of prevention is worth than a pound of syrup when it comes to protecting your business from a lost due to a business interruption. I’m Ivy Hartman reporting for SBTV.com where small business is our only business.
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