Did your business already have a pre-written recovery plan before COVID-19? You may think that only large corporations need a recovery plan but what has been highlighted over the last few months is how important they are for every business large or small!
Cloud technology has allowed businesses some continuity and we have seen innovative solutions as some businesses have found ways to carry on trading but had business owners given much thought to what would happen if the unexpected did!
Business Continuity & Disaster Planning:
1. Analyse your business
– Who / What / Where – what products services do you sell?
– What happens if you cannot work onsite?
– What technology should you use
2. Access the risk
– Fire / Flood / Theft / Worldwide Pandemics!
3. Develop a strategy
– Based on your answers what actions are needed to prepare?
– Who takes responsibility for what?
4. Plan and Test
– You should always remember to test your plan, communicate with all staff so they know the procedure should something happen.
Business continuity planning doesn’t have to be complicated; it could be as simple as knowing the cashflow buffer you need to maintain should the business not be allowed to trade for x number of months.
Is your business more resilient now?