Business Continuity Plans Are Necessary For Small Businesses ...

The majority of large companies have a business continuity/disaster recovery (BC/DR) plan in place. Unfortunately, most small and medium businesses do not.? But it is just as important for them to be prepared as well. Though there are many causes for business interruption; we will focus on fire and natural disasters.

The plan you need will most likely not be on the grand scale that a large corporation will require, though the need is just as large. The same steps, the same details and the same follow-through are required.

If you have employees, you have the responsibility to be prepared so you can be back in business quickly. This responsibility is for your own family, but also for the families of each of your employees.

So what is the reason so many small and medium businesses don?t have a plan?

The owners and executives often wear a large number of hats on any given day. Creating a BC/DR is just one more task they have difficulty fitting into their schedule. Most employees would not have enough knowledge to take on this project. So, unfortunately, it remains on the list of things to do.

The other consideration is maintaining the plan to keep it current. It must be updated annually at the very least. So even if they do remember to address any changes that happened during the year to affect the plan, the issue is finding the time to work that into their already busy routine.

Most SMBs are on a tight budget and have difficulty justifying the expense on something that only might happen. Then when a disaster does happen, and they don?t know what to do, where to go, and how to get back to doing business, they regret not having a plan in place.

There are a plethora of benefits a business continuity/disaster recovery plan will provide. There is great value in saving time, money and stress. This type of preparation will bring benefit to all three. Once this is realized, more owners will take it more seriously and choose to have this much-needed plan in place.

Benefits for small businesses:

• Reduced stress ? When you know you have a good, solid plan, you can spend your time implementing it and know you are prepared.
• Easier and more thorough insurance claim ? An inventory of assets allows for a fast, efficient claims process which results in a speedy settlement with a maximized financial outcome. (If you don?t have or want to take the time to create your asset inventory, contact a nationally certified inventory professional to complete it for you.)
• More money to replace and repair ? The larger insurance settlement will allow for speedy repairs or replacement.
• Brief down time -? A very short downtime will ensure you?ll retain customers and employees who might otherwise go elsewhere if there is a long delay before you?re back doing business.

Though it seems you don?t have the time or the money to have a business continuity/disaster recovery plan in place, the cost is minimal if you face a fire or natural disaster.

Source: http://hartmaninventory.com/blog/business-continuity-plans-are-necessary-for-small-businesses/

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