A disaster can affect any organization or business, and it is almost always without much notice. Large disasters such as earthquakes are not very common in Wisconsin, so do not need as much focus in the planning. However, disaster such as snow storms, power outages, floods, fires, or hazardous material accidents can be very damaging to businesses. Implementing a business continuity plan will help your organization minimize the effects of a disaster. Below are 5 very important ways that a business continuity plan can help your business.
1) Reduce your downtime. Even for small businesses downtime can be very costly, every hour your business is down can cost thousands of dollars. Having a plan in place to get up and running, will help to minimize these costs.
2) Protect your important assets, such as your customer and accounting data. You need to identify your organizations critical assets and ensure they are stored in a secure and protected location. Your critical data, should be replicated and stored off site as well, if you are able to do this automatically that would be ideal.
3) Plan for remote operations. A larger disaster may prevent your staff from getting to work, or possibly even accessing your building. A part of your business continuity plan will include processes and procedures to work remotely.
4) Ensure critical business operations continue. Your business continuity plan will include ways to identify how critical operations will continue to run, such as backup generators and batteries to continue operations.
5) Prevent your business from going out of business. Disasters can lead to your business being down, and losing a substantial amount of revenue and clients. According to the Federal Emergency Management Agency (FEMA) 40% of businesses do not reopen after a disaster and another 25% fail within one year.
A business continuity plan will ensure you minimize costs, and reduce costly downtime if a small disaster were to occur. If a larger disaster were to occur, a business continuity plan could potentially save your business.