WASHINGTON, April 4, 2016 /PRNewswire-USNewswire/ -- As global trade expands, small businesses are relying more on overseas companies to supply goods and services. This also makes small companies vulnerable to disruption when those supply chains fail.
A recent study done by the Business Continuity Institute and Zurich Insurance found that 74 percent of companies had at least one supply chain disruption in the past year. Around 14 percent suffered losses of more than $1 million. The top three causes of supply chain disruption were unplanned IT and telecommunication outage, cyberattack and data breach, and natural disasters.
Small businesses can protect against costly shutdowns by building a solid supply chain. Even if your company doesn't rely on a long list of vendors and suppliers, developing a business continuity plan can protect your assets.
Join the U.S. Small Business Administration and Agility Recovery on Tuesday, April 12 at 2 p.m. EDT for a discussion on best practices for developing a resilient supply chain.
The SBA has partnered with Agility Recovery to offer business continuity strategies through its "PrepareMyBusiness" website. Visit www.preparemybusiness.org to get tips on building your own disaster plan.
The SBA provides disaster recovery assistance in the form of low-interest loans to homeowners, renters, private nonprofits and businesses of all sizes. To learn more, visit www.sba.gov/disaster.
WHAT: "Disaster Preparedness & Your Supply Chain" -- A presentation followed by a question and answer session
WHEN: Tuesday, April 12, 2016 -- 2 to 3 p.m. EDT
HOW: Register at http://agil.me/supplychain16
Advisory Number: MA16-19
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/is-a-solid-supply-chain-crucial-to-your-companys-success-300245471.html
SOURCE U.S. Small Business Administration