6 December 2011
Last Friday, I went to KPMG section about how to carry on your business through the flood focusing on tax, accounting and insurance issues. It had been several months already since the flood situation took place. Right now the situation seems better as so many companies, factories and industries are preparing to go back to normal operations but the process of doing so might not be so easy.
The main idea of this section is to advise what to do when companies want to reopen again and how they can reclaim the cost of damage on the equipments and assets that was caused directly by water and also the indirect loss on business value during the flooding. All the process is painful and takes a very long time until you can actually get compensation.
Many companies have a difficult time to study the right procedure to make a reclaim and preparing all documentations and evidence needed for proving the damage from flooding. Apart from that they also need a long time to recover all documents and equipments to make them run normally. It emphasizes how important preparation and planning is and teaches us to expect the unexpected.
Good planning and preparation will not only give you confidence and security during normal situations but it also guides you during bad situations on how to manage things so you can completely control the situation. This is why Broadgate has a very personalized service to help clients develop the best plan for their money because we realize that what matters the most for the clients is the confidence that they have the ability to control any situation.
“Let our advance worrying become advance thinking and planning” – Winston Churchill