No one expects it but unforeseen circumstances do happen and cause major disruptions to your ability to run a business. So if these situations happen, do you have a plan?
As a business owner, it is prudent to have a continuity plan to provide instructions and vital information to keep your business operating in the event you are indisposed to perform your day-to-day duties in your business.
A continuity plan provides trusted and chosen person(s) access to information about accounts, business processes, and key contacts so they can perform their designated duties and also step in and take on some of your responsibilities.
Plans detail administrators and include contact information for emergency responders, key personnel, and backup site providers. These plans maintain the business operations and provide detailed strategies for both short-term and long-term plans.
The plan should also cover how to re establish office productivity and enterprise software so that key business needs meet the required goal. There should be outlined manual workarounds in the plan so that operations can continue until computer systems can be restored in the case of an IT mishap.
For example, if a textile factory owner without a continuity plan, had a fire outbreak blazing the factory to ashes, with no plan to get back in business. Bereaved by his loss, he goes out of business without knowing what to do next. But, a store owner, hit by a similar incident, might be able to recover and continue the business, because he had a continuity plan. This is why it’s important not to underplay the continuity plan for every business, as it helps to prepare for any unforeseen events.