Business Continuity PlanA Business Continuity Plan is a document that outlines a business' plan to allow it to continue operations in case of a disaster or emergency.
The Business Continuity Plan is designed to ensure the continuous operations of a company during and after a significant business disruption (SBD).
What does a Business Continuity Plan cover?
- Definition of Significant Business Disruptions;
- Responsible persons;
- Business impact analysis;
- Recovery strategies;
- Incident response;
- Business continuity procedures;
- Communication plan;
- Training and awareness;
- Backup and recovery;
- Supply chain and third-party management; and
- Legal and regulatory compliance.
Note: many of the sections in this BCP have been kept as high-level concepts, as it is up to small business to determine which procedures they will actually implement in case of an SBD. We recommend speaking to a specialist in the field, such as an emergency management consultant.
Should my business have a Business Continuity Plan?
SMEs should have a BCP to identify potential threats and plan for their mitigation, ensuring the company and its stakeholders are well-prepared for any emergency. This plan allows the company to respond efficiently to disruptions and minimize their impact on day-to-day operations.