Prepare for the worst, pray for the best Miami. While BP's oil gusher in the Gulf has already put a stranglehold on the lives and livelihoods of our friends in the Gulf region, we here in South Florida hold our collective breath and pray for a different fate.
At the same time, given the dire predictions of so many scientists who continue to insist that the oil will reach the loop current any day and start making its way around the Keys and up the Gulf Stream, local Miami businesses should be taking steps to prepare for the worst.
As another hurricane season began June 1st, Miamians took part in the yearly drill of stocking up on batteries, water, canned foods, candles, etc. just in case. Well, now is also the time to get ready for what could ensue if the oil reaches our shores.
Here are some things that smart local businesses (such as hotels, restaurants, marinas, waterfront property owners, suppliers, and those in the fishing industry) should be doing in order to be in a position to properly documents losses that could be suffered as a result of the oil damage:
- Gather tax returns and all documents and financial statements showing your business income and expenses for at least the last 5 years
- Take photographs of your business and/or property NOW before any oil effects are felt
- Document any cancellations you receive in writing by sending a confirming letter to your lost client.
A word of advice, based on what we know from past oil spills and how oil companies (including BP) have dealt with devastated communities and businesses in the aftermath: prepare for the worst.
By on June 14, 2010 6:03 PM
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