Well, the dictionary definition is: “the unbroken and consistent existence or operation of something over time.”
In business it means the ability to continue, with your income stream unaffected, through serious problems that would normally disrupt or halt activities.
These problems can fall into a number of different categories, but critically any number of things can not be insured and those are the ones you need effective plans to deal with.
These might include, competition, problems with suppliers or customers, changes in public policy and the law, equipment delays, infrastructure problems and the like.
Even the insurable risks only provide financial compensation after the event, and do not deal with “what you do” when the proverbial hits the fan.
BCP (Business Continuity Planning) is something every business should do, and the daft thing is, in small businesses its even more important and often quite simple.
The main steps are:
- Policy & Programme Management
- Embedding BC
Over the next few days, I will go through the 6 steps above to give you a taste of what it means to undertake meaningful BCP, #becauseaccidentshappen to nice people all the time.
If you like to have a chat about how a modest spend can give you almost complete peace of mind and savings elsewhere can often pay for it, just message me here, it might be the most valuable call you ever make in your business.
Have a great day 😊