It’s imperative for companies to have a backup plan for disaster, as no one can really predict when they will strike.
Business disasters come in all forms, not always just a natural disaster. Business owners should take steps now to give themselves a better chance to react and reopen quickly.
Without a business continuity plan, 25% of businesses forced to shut down because of a disaster never reopen.
ABCs of Why Continuity Planning is important
There are many good reasons for businesses to plan for the unexpected, most importantly protection and preserving the bottom line. To keep it simple, remember the ABCs:
With a business continuity plan, your business will have a better chance of remaining competitive and minimizing the loss of revenue and customers. A solid and tested plan boosts customer confidence. When your customers know you have plans in place to provide continued delivery of goods and services during a crisis, they are less likely to flee to competitors if a disaster threatens your area.
Having a plan allows you to demonstrate that your business is committed and prepared to protect your employees, clients and their assets at all times. This demonstrates a proactive attitude and can enhance employee morale and public opinion about your business. With increased confidence in your business’ ability to operate during unexpected circumstances, your positive reputation grows with customers, staff, partners and investors.
Check Out: Strategies Behind Crisis Management
Having a business continuity plan will improve communication within your organization and with customers, suppliers, vendors, and key stakeholders. This is a helpful way to improve daily operations, not only in the event of disaster.
FEMA has released this business continuity plan whitepaper, it will explain the importance of implementing a plan, to make a case within your company.
Does your business have a business continuity plan? If not, we have one for you here