Does your business have a preparedness plan? It’s estimated that two-thirds of small businesses have no plan in place in the event of a major business disruption or disaster. That’s part of the reason it’s estimated that nearly half of businesses fail following some type of major setback.
Also called a business continuity plan, a preparedness plan can dramatically increase the likelihood a business will survive a major setback. That’s why we wanted to share with you this free online tool available from the Department of Homeland Security and the Federal Emergency Management Agency. This easy-to-navigate tool is available to small businesses that need to create, improve or update a business continuity plan.
One of the best aspects of this online tool is that it’s designed to help business owners and managers who aren’t even sure where to start. Business owners and managers can learn exactly what business continuity planning entails and why it’s important before moving on to the actual process of creating a plan. Some risks are difficult or even impossible to plan for. The global pandemic, for example, took the global business world by surprise — it’s one of those risks that few of us could have anticipated. But business owners can plan for problems such as major Internet or power outages, weather disasters, flooding, wildfires and other location or industry-specific threats.
A good plan includes details such as a list of alternative suppliers should something happen to your existing supplier base. Do you have alternative work sites so that you can keep operating if your building is flooded or destroyed by fire? Do you have a way to keep employees informed of a major business problem? Do you have a backup of all important files and documents stored off-site?
Once you start creating a plan, we can help you determine which risks are the most prevalent in your area. An important part of business continuity planning is insurance coverage. We can help you determine the greatest risks to your enterprises and help you find the most cost-effective ways to mitigate those threats. Questions? We’re here to help! Give us a call: (859) 781-0434.
