It’s not hard to imagine what a huge disaster such as fire, flood or long-term communications outage could do to a business, but research by Databarracks found that only 30% of small organizations, 54% of medium and 73% of large businesses have any contingency plans in place.
So for those who think a disaster will never happen, what happens when it does?
According to the Government, around half of all businesses experiencing a disaster without recovery plans in place will fail within the following 12 months. If this isn’t alarming enough, according to research commissioned by telecoms provider, Daisy Group PLC, three million UK workers and up to 31% of UK businesses are affected by transport problems, power cuts or broadband and phone line failures caused by bad weather in the UK. And of those, 40% didn’t have a plan to cope.
Simply put, without access to IT systems, a means to communicate with customers or a place for employees to work, many smaller organisations will simply go out of business.
That’s why it’s a great idea to get a plan in place to cover your company for when a disaster occurs. Commonly known as a business continuity plan, it’s a series of actions that, when triggered by an adverse event, spring into life to keep your business up and running.
Business Continuity Awareness Week (13-17th May), an annual event run by the Business Continuity Institute, highlights the importance of businesses having plans in place – regardless of their size. With the theme “Investing in Resilience”, there are a host of ways businesses can learn more, raise awareness and take part.
Key issues business leaders need to consider for when their premises are compromised is whether they need to have a back-up location where their employees will work, how they will access the IT and communications they need, the impact on their supply chain and so on.
In addition, things like contact lists of suppliers and customers need to be on hand – and the most important thing is having access to critical business data to prevent your company from grinding to a halt.
* Source: Touche Ross 2017