Strategies business owners can implement to deter looting during periods of social unrest
The recent anti-Finance Bill protests in Kenya, which saw a significant amount of looting and destruction of businesses, have left many entrepreneurs grappling with the aftermath.
As business owners strive to rebuild and recover, it's crucial to glean valuable lessons from these events to better prepare for and mitigate the impact of similar occurrences in the future.
Here are key takeaways for business owners on how to handle their enterprises during such turbulent times.
1. Strengthen security measures
One of the primary lessons from the protests is the importance of robust security measures. Business owners should:
Consider employing security personnel, especially during times of heightened tension.
They can also form alliances with neighbouring businesses to create a collective security strategy, making it harder for looters to target any single business.
2. Insurance coverage
Adequate insurance is crucial in mitigating financial losses from looting and property damage. Business owners should:
Ensure your insurance coverage is comprehensive and up-to-date, covering various forms of damage and loss.
Be clear about what your policy covers and the claims process, so you can act quickly if needed.
3. Financial preparedness
Financial resilience is key to weathering periods of unrest. Business owners should:
Set aside funds specifically for emergencies to cover immediate expenses and repairs.
Also Explore multiple revenue streams to reduce reliance on a single source of income, which can be vulnerable during unrest.
4. Engage with the community
Engage in community activities and build positive relationships with local residents and other businesses.
5. Stay informed and proactive
Being well-informed about the socio-political climate can help business owners anticipate and prepare for potential unrest. Steps to stay informed include:
Keep abreast of local news and government announcements that may indicate potential protests or unrest.
Maintain communication with local government and law enforcement to stay informed about security measures and potential threats.
