HOW BCP CAN SAVE YOUR BUSINESS
Sometimes, if you take a step back to think about all the different risks and threats your business faces it can get a bit scary. Most business owners would like think they know their business so well that they could rebuild it without needing a full Business Continuity Plan.
It’s very tempting to forgo the lengthy process of putting together a full Business Continuity Plan and we can see why- it’s a long, dull process requiring input from multiple stakeholders and… I’m tiring myself out just writing it up!
We all know the importance of a good plan; most of us (if not all) remember the winter floods of 2015/16. Thousands of businesses were affected and although defences have been reinforced, it’s important that all business owners are prepared. One of the best ways to make sure you’re still in operation if the worst happens is through solid Business Continuity Planning (BCP).
But how can you motivate yourself to get one done? And is there an easier way to do it?
We’re here to help.
What exactly is a Business Continuity Plan?
Business Continuity Planning (BCP) is best described as the planning and preparation that will keep your business afloat during any operational emergency.
You will identify all potential risks you’re likely to face and understand how to keep operations running in each scenario. As well as protecting your business, this is a good way to truly understand your business and the information you uncover will be useful to have to hand when it comes to getting quotes for insurance too.
What are the benefits of having a Business Continuity Plan?
Although you know the risks (flooding, cyber-attack, terrorism to name a few), the effects these have on you are often unique to your business. There is no standard response. Your business is complex with many highly interconnected and synchronised components known only to you, so rebuilding it (whilst continuing to operate) is rarely easy or straightforward, even with help.
- Business Continuity Planning helps your business survive a major disruptive event
- Insurance doesn’t cover all aspects of Business Continuity risk, since it can’t cover any issues arising from a slow response
- Build timescales to ensure your IT gets back on track as quickly as possible in case of major disruption
- Coordinate emergency response with your business recovery at the same time in case of a dangerous event such as fire or flood
- In case of damage or destruction to infrastructure, your facilities managers will have a plan in place to either relocate or rebuild quickly
- Finally, getting up and running again soon after an sends a powerful messages to your customers, reassuring them that they will never be left uncertain or under-supplied if the business suffers disruption
How do I create a Business Continuity Plan?
We have partnered with Inoni to offer free and discounted BCP kits and services exclusively available to FSB Insurance Service members.
If you are already a registered member, you will have received the ‘Welcome Pack’ email with details on how to access the Inoni portal. If you can’t find it or aren’t registered, give us a call on 020 3883 7976.