After 2017’s long string of natural disasters, middle market businesses need to ask themselves how susceptible they are to destruction. They cannot, however, limit themselves to floods and wildfires
Running a business is a stressful job in the best of times. When disaster strikes, the fallout can be enough to compel unprepared executives to close up shop. It’s easy to become complacent regarding risk exposure when operations are running without interruption. However, a new report from the National Center for the Middle Market shows that in the past two years, half of all middle market businesses experienced some sort of disruption—an unforeseen event outside the normal course of business that damages a company’s health.
Disaster is a straightforward word that signifies large-scale losses. Yet its association with catastrophic physical events can obscure other types of risks that middle market companies can incur. For clarity, the NCMM report breaks down threats facing middle market businesses into three distinct categories.