When you run your own business, no matter what size, you are well used to dealing with the unexpected. Your ability to react to situations as they happen and seek solutions to issues is what has driven your success. 

However, sometimes life throws a curveball that requires more than your usual measure of resilience and tenacity. If you had an accident, how would that impact your business? 

You will no doubt have processes and procedures in place for disaster recovery, but have you applied the same logic to figuring out what to do if you have an accident and are unable to be at the helm of your business?


You will already have insurance in place to protect you from any work-related accidents, but if your accident occurs out of office hours, you will not be covered. You can contact 1-800 VINCENT to pursue damages and compensation on your behalf, but claims can take time, and you will need that money to cover your living costs, so you need to have other plans in place too.

Key person insurance is a type of life insurance and can be bought to compensate the business in any shortfall that it may experience from the loss – either short or long term – of a person who is critical to the business. Typically, this insurance is for the business founder or partners, but it can be relevant for other key personnel too. If you are a solopreneur, you should explore insurance options to protect your business if you fall ill or have an accident as there is no one else to pick up the reins. 

Office Handbook

No matter the size of the venture that you run, you should already have an up to date office manual or handbook. You should document the processes and procedures that are regularly used in the day-to-day running of the business. You should also list your contacts, clients, customers, suppliers, and stakeholders so that they can be contacted in the event of an emergency – you want to keep the relationship with them going for when you are fit enough to continue working. 

This document is valuable and should only be accessed by people that you implicitly trust, but it means that in the event that you are unable to be at work for a length of time, your business can potentially still be run without a hitch. 

It may feel that you are tempting fate even thinking about the subject, but the survival of your business may rely on your Plan B. Your business needs you in place to function, you are its lifeblood, and if you are unable to work for a prolonged period, your business may not survive. 

Always plan for the worst-case scenario and be prepared for any eventuality that life throws at you. Even the most forward-thinking entrepreneurs neglect to develop a plan for emergency situations that are beyond their control – don’t be one of them.