An emergency incident in your region or local area will inevitably have a financial impact on your business. One of the first actions to take after a crisis event occurs is to prepare the business’ finances to cope with the months / years ahead.

The extent to which your business will be affected by an emergency will depend on:

1. the nature and expected duration of the event
2. your financial reserves and access to other funding sources
3. whether the business can keep trading
4. whether customers continue to come to your business
5. the actions you take to reduce expenditure.

What type of crisis event is it?

To help work out the financial implications of a crisis event and the best response, it is important to be realistic about how severe the impact of the emergency will be, and how long it’s likely to continue for. Find a table that outlines different types of emergencies and appropriate financial responses in the Resources section.

Keep in mind

Following a crisis that has impacted upon your business, find out about the financial assistance that may be available to you, for example tax cuts or deferment of tax instalments, business grants, low-interest loans, business advice, etc.

Has the emergency incident destroyed:

1. any of the business’ records (such as receipts, invoices, financial computer software, bank statements, licenses and accreditations).
2. your personal records (such as birth certificates, licenses, credit cards).

Some of these may be easily replaced if you contact the issuing organisation; some may be irreplaceable and you may need statutory declarations or other actions to protect the legal position of the business.