Small business owners know that time is precious. There are never enough hours in the day, and you need all your energy, insight, and diplomacy to keep everything humming along. It’s difficult to dwell on the “what ifs” when you’re juggling a host of absolutes.
But unforeseen disasters happen – and more frequently than you might imagine. Big problems can grow from sudden events that interrupt operations or prevent talented employees from doing their work, especially when you don’t know how to respond. Whether it’s a data breach or a hurricane, a fire or a virus outbreak, a good business continuity plan can help your small business clear big hurdles.
If this scenario makes your heart race, you’re not alone. This is where business continuity comes in: it’s about anticipating the financial and operational consequences of a disruption, and planning ahead to help your business return to normal operations as quickly as possible.
A number of important elements go into business continuity planning, including a review of your main risks, managing the risks with good back-up plans, business insurance, and the recovery and continuity plans themselves. But before you can sort out the details, you’ll need to understand where your business stands – and where your vulnerabilities lie.
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