The Top 6 Regrets of Small Business Owners Struck by Disasters
Jun 16, 2025
By Carol McLaurin, SBTDC Director of Strategic Initiatives & Partnerships
North Carolina small business owners are no strangers to disasters. Since 1999, NC has experienced 13 federally declared disasters. That’s one every 1.9 years on average.
Yet despite the increase in federally declared disasters in NC and across the country, many small business owners fall short of even modest disaster planning and preparation. When flood waters rise, fires rage, or cyberattacks hit, business owners consistently express the same regrets about their lack of preparation. Below, I will share what they wish they’d done differently—before it was too late.
1. “I wish I had proper insurance coverage.”
Many small business owners discover too late that their standard policy doesn’t cover specific disasters like floods or earthquakes. Others find their coverage limits fall devastatingly short of actual recovery costs. Comprehensive business interruption insurance—which covers lost revenue during downtime—is frequently overlooked until it’s needed.
2. “I wish I had backed up my data properly.”
Data loss remains one of the most preventable yet devastating consequences of disasters. Cloud storage solutions are affordable and automatic, and are generally more reliable than local storage that may be just as vulnerable to the destruction as the small business.
3. “I wish I had a written continuity plan.”
When disaster strikes, chaos follows. Business owners often are left asking questions such as: Who calls whom? Which systems need to be restored first? Where are temporary operations established? Without a documented plan, critical decisions are made under extreme stress, often poorly.
4. “I wish I had cross-trained my team.”
Businesses that rely on just one person for critical functions face paralysis when that person is unavailable during a crisis. Cross-training ensures operational continuity when team members can’t access the workplace or are dealing with personal disaster impacts with their family or home.
5. “I wish I had built stronger relationships with suppliers and partners.”
When resources are scarce after a community-wide disaster, businesses with strong supplier relationships often receive priority assistance. Introduce yourself to key contacts, not just account reps. Check in quarterly, even if you don’t need anything – to keep relationships warm. These connections can mean the difference between weeks versus months of downtime.
6. “I wish I had managed my cash flow better.”
The businesses that survive disasters typically have cash reserves or ready access to capital. Insurance payouts can take months to arrive—too late for businesses operating on razor-thin margins–and FEMA assistance is likely to be greatly reduced based on federal changes. Automate weekly transfers to an emergency fund and aim for 3-6 months of operating expenses.
Disasters don’t announce themselves. The time to prepare isn’t when storm clouds gather or when strange network activity appears—it’s now, when skies are clear and systems are functioning normally.
What will you wish you had done differently if disaster strikes tomorrow?
