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Could Your Small Business Slip Away?

Andrew Rusnak

November 05, 2015

Running a small business comes with a lot of responsibility, and one of the greatest responsibilities included is the responsibility to keep customers and employees safe while they are on your properties.

For some small business owners, this doesn't pose a much of a challenge, as they only have one location that doesn't serve the public directly.

For others, however, the chance for slips and falls is great as they have multiple public-facing facilities.

Why Do Slips and Falls Occur?

People can slip and fall for many reasons.

Wet floors are a common cause, but so are improper lighting and debris in a walkway. People also suffer from slips and falls due to hazardous areas not being marked properly.

In the article, "Is Your Slip-and-Fall Accident Eligible for Compensation?" it's mentioned that things like uneven walkways that are known and not corrected can be a cause of slips and falls, especially when combined with the aforementioned factors.

Cost of a Slip-and-Fall Accident

According to the National Floor Safety Institute, slips and falls account for 8 million emergency room visits annually.

In addition, injuries related to slips and falls can cost businesses up to $300,000 per year. However, this is just in medical costs.

The actual cost to your business after a customer or employee is injured can be far greater if the story gains media attention, especially if you aren't covered by premises liability insurance.

Essentially, a media story about an injured person at one of your company's locations can do great damage to your brand's reputation, and this damage could cost many more hundreds of thousands of dollars in lost sales.

Over time, this can add up to millions in lost revenue.

Protecting Customers and Employees from Slips and Falls

To avoid the abovementioned scenario, it's important to take safety seriously.

This means putting into place, and enforcing, clear guidelines regarding wet floors, lighting, and other potential hazards.

As soon as a spill is reported, someone needs to attend to it and mark the area off. If lighting is an issue, change bulbs or add additional lighting. In areas with uneven flooring, bring in professionals to level things out.

You should also discuss your premises liability insurance needs with your provider to ensure that you are up to date.

This type of insurance can be a vital asset in the event that someone becomes injured on one of your business' properties.

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