August 03, 2012- Does Business Preparedness Really Matter?

In 2011, in the United States alone, natural disasters caused approximately $59 billion in damages. Around the world, the number soars to $365 billion. Over the past 10 years, disasters have caused an estimated $400 billion in damage in the United States and over $1.3 trillion in damage around the world.

Common belief holds that every $1 spent on disaster preparedness saves $4 when a disaster happens. But is preparedness worth the initial $1 investment?

To many of the world’s best-known companies, it is. Preparedness benefits the whole company – especially employees and customers – and the communities where you’re located. Does Business Preparedness Really Matter?, an article by BCLC’s Gerald McSwiggan, discusses five companies and their respective disaster preparedness efforts. The efforts of companies highlighted in this article are discussed in greater detail in BCLC’s recent report on “The Role of Business in Disaster Response”.