Impact of Power Outages on Small Businesses

Impact Of Power Outages on Small Businesses

Our reliance on gadgets and the technology that powers them has increased both in our personal and working lives. Businesses are adopting technologies such as computerized inventory monitoring, smart lighting, smart thermostats, and point-of-sale terminals (POS) to function more efficiently. 

Yet, when the power goes out, these devices stop working, which can bring their products to a halt. Many factors, like weather, trees, human error, automobiles, and more, can cause power outages. Even animal disturbances are also a significant cause of power outages.

Power outages can be devastating to your business. Even a brief outage can affect communications between your company and your customers, employees, inventory, and equipment. 

The costs associated with any of the above problems can add up over time, depending on how long the temporary outages occur. Experts estimate that more than $30 billion is lost per annum due to power outages.

To protect your business, you should at least know how power outages can impact your business and what precautions you can take to prevent them.

Budget Overrun

Almost all businesses today rely on electricity for most of their operations. When disruptions occur, businesses are forced to find replacement solutions, which increases their operating costs. With a smaller operating budget, you must also cut back on other essential business activities.

Employees who rely on electronic equipment to perform their jobs could be unable to do so due to a power outage, resulting in decreased production. Less inventory means less income, which could lead to a drop in productivity. In addition, you may have to pay your employees overtime to make up for missed time and complete tasks, which could lead to a budget overrun.

Make up for the cost by exploring cheaper power companies where you can discover power deals from some of New Zealand’s best electricity suppliers. In seconds, you can compare electricity packages from the best electricity providers in New Zealand, including Contact Energy and Genesis Energy. If a competing electricity provider has a better electricity rate on offer, you can switch to that provider with a quick online search.

It is not hard to compare power deals. With a comparison service you do not need to spend hours searching the Internet to find the many electricity deals that are out there.

Annuity Termination

When the power is out, websites may be down, and your business may not be able to provide the services or goods you are used to. Customers are likely to choose another source for such services and products if they cannot access your website or identify your items, resulting in a loss of money.

To save yourself this hassle and loss of business, check suitable electricity providers’ rates in an area and then compare them.

Compare electricity providers now with CompareBear which has a quick and easy electricity contract comparison service. They compare you page by page, so you can compare whether you are looking for the cheapest deals or the lowest electricity prices.

Customer Service Challenges

There are some awful moments, but there is never an enjoyable time for a company to have a power outage. Have a solid customer service strategy in place if you must turn away customers and sales and consider incentives to attract them back after power is restored.

Convincing them to come back may not be your biggest challenge. Even if your business has a high reputation under normal conditions, a power outage may cause customers who have traveled a long distance or are returning an item to feel they have received substandard customer service. 

Over time, this can lead to unfavorable reviews that can damage your company’s reputation and reduce sales. Focusing on strong customer service can prevent a brief outage from becoming a permanent problem.

Loss of Data

Most companies today rely on the data they receive while doing business to plan, expect, and even generate leads for future business. Data is often backed up online, meaning that even if the power works fine, an internet outage can also be damaging for business plans. Data can be lost for hours or even days if your company does not perform regular backups in the case of a sudden internet outage.

Telstra Corporation Limited’s Belong business provides voice, ADSL, and NBN services. In addition, the company offers round-the-clock customer service. Check out the outage map, which shows all complaints from each network location, to see how the Belong network is doing. You can also contact the company if you want to report a problem at your location.

Protect Your Small Business from Power Outages

Although power outages are unpredictable and expensive for businesses of all sizes and types. If you follow a few basic power outage safety guidelines, develop a contingency plan for your small business, and invest in a reliable source of emergency power, you can make it through the other side and keep building those profits!

Learn more about  Business and Small Business at Digital Business Grow.

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