Business Continuity
Programs to help your small business in a crisis
Business continuity refers to the process of surviving a disaster or extended disruption. The core concept is that businesses should be able to stay strong and function during and after a major disaster, rather than having to pick up the pieces and rebuild.
Disasters can come in many forms for small businesses. You never know when you’ll be facing something like a product recall, lawsuit or another catastrophic event. You need to know that the health of your company (both short term and long term) is secure at all times.
If you own or operate a small business, it’s vital that you have a logistical plan for how to survive such a disaster. In the business community, these plans are called “business continuity plans.”
When formulating a business continuity plan, be sure to take these things into account:
- Risks. What are the greatest threats to your business? Which risks will you dedicate the most resources toward protecting yourself against?
- The essentials. In the event of a disaster, what are the most critical functions of your business? How can you ensure these functions continue to be performed?
- Training and awareness. It’s great to have a plan, but you won’t know if it’s a good plan until you test it out. Try running through a few hypothetical disaster situations. Consider it “war games” for your small business. Make sure your employees know what their responsibilities are in the event of a disaster.
One interesting by-product of creating a business continuity plan is that it can help you better understand what the core values of your business really are. Many entrepreneurs have reported that it wasn’t until after they had begun to think about business continuity that they realized what the true nature of their company was.
Getting Educated
If you need help coming up with a business continuity plan, it’s a good idea to see if your local college or university offers any courses on the subject. There are many business continuity programs available that are aimed specifically at small business owners. It’s never fun to think about what will happen in the event of a disaster, but it’s something that all responsible entrepreneurs need to do.
