Every business owner should prepare for the unexpected. According to the FSB (Federation of Small Businesses) every year one in five businesses suffers a major disruption and one in ten of these cease trading due to this disruption.
What preparations have you made to overcome disruptions to your business?
Have you thought what could have an impact on your business? For example:
- Loss of employees and key skills
- IT Issues
- School closures/industrial action (employees with childcare responsibilities)
- Extreme weather
- Loss of utilities
- Fire or flooding
- Problems with suppliers
A business continuity plan and a "battle box" containing the essential information for a business to continue trading should be kept off site. Your business battle box may include one or more of the following:
- ·Your business continuity plan
- ·A list of employees with contact details
- ·A list of customers and suppliers
- ·Your insurance company details and copies of your insurance certificates
- ·Financial and banking information
- ·Contact details for utility companies
- ·Your latest stock and equipment inventory
- ·Formulas and trade secrets
- ·Spare keys and security codes
- ·Disposable camera for recording evidence for insurance claim
If you need to implement a Business Continuity Plan we recommend Spire Business Solutions who will be able to help you with planning or write your plan. They have helped us. Visit www.spirebusiness.co.uk for more information.