Last week, this blog briefly touched on the government shutdown, and how some businesses might be feeling its effects. With the second week underway, more companies are facing a stall in daily operations and are trying to prepare for potential long-term consequences.
Comprehensive Nevada business insurance policies cannot prevent a federal shutdown, but as the situation proves, entrepreneurs must be ready for any scenario.
According to Bryan Wachter at the Nevada Retail Association, a prolonged shutdown could affect holiday inventories for many stores. With U.S. customs officials not working, ports of entry could see a huge slowdown in goods being transported through.
"A prolonged shutdown might start to affect inventories for holiday sales," he told the Las Vegas Sun.
Red Rock Canyon is a common tourist destination in Nevada, and according to officials at Pink Jeep Tour, the effects are already being felt.
General manager Richard Scown told the Sun that not only does it make his company look bad, as tourists come from as far as Europe to go on some of these tours, but his business is losing money. Specifically, Scown estimates that between $8,000 to $10,000 per day is lost because Pink Jeep has to cancel all tours into the national parks.
The right Nevada business insurance cannot prevent instances like this from happening, but it is an important tool for company leaders to have. Any drop in revenue can be devastating for a business, regardless of the reasoning behind it. Working with commercial insurance specialists who understand the area can help business owners find policies that meet their daily needs and are comprehensive enough for the long run.