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One of Auckland’s most iconic streets is getting a make-over – and the resulting construction may disrupt many of the businesses located in the area.
With Auckland Council ramping up for a multi-million-dollar enhancement of the famous Karangahape Road, also called K’Road by locals, a partner in a business advisory firm is urging local businesses to prepare.
“Don’t expect councils, governments, customers, banks and anybody else to do you any favours,” said Vinay Iswar, partner at OneHQ. “When you are in business, you are on your own. It is quite literally like being in command of a sailing vessel, there will be rough weather ahead.”
According to Iswar, one way for businesses to prepare is by contacting their insurer to find out if they qualify for business disruption insurance. He warned, however, that insurers might want material evidence of disruption, and consequently may also only pay out after the fact.
“The council works in K’Road, as is often the case when businesses are disrupted, are beyond small business owners’ control, so they can take back some of that control by making an active choice to take action and doing something that makes the best of a bad situation,” said Iswar.
