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Why you need a business continuity plan

July 1, 2019

Running a business is challenging. Between establishing your customer base, training employees, and growing your business profitably, every day throws up new challenges for even the most experienced commercial leader. 

“Planning is bringing the future into the present so that you can do something about it now.” – Alan Lakein

In business, it is crucial to expect the unexpected–particularly as some challenges can bring your operations to a standstill. The key to keeping your business moving is devising a solid business continuity plan. Here’s how a business continuity plan helps you. 

Know your business

Creating a business plan forces you to look at your business, your commercial objectives, and your short and long-term goals. Writing a business continuity plan is an opportunity to re-familiarise yourself with your business and where it’s going. 

Downtime costs money 

Downtime costs small businesses a staggering $8,600 per hour, according to the Aberdeen Group. Every minute offline is another minute wasted–reduce your downtime and protect your bottom line with a business continuity plan. 

Peace of mind

There’s no greater feeling than knowing you’re prepared for a business dilemma. Give your executives and personnel staff peace of mind by setting out a logical plan for tackling business challenges. 

Disasters affect small businesses most of all 

Alarmingly, nearly half of small businesses report that it could take up to 3 months to recover from a problem, depending on the scale. A bespoke, reliable business continuity plan could reduce this timescale. 

Your business reputation matters 

Customers care about how you respond to challenges. Business continuity plans lay out steps for keeping at least a skeletal business framework running during a crisis. Customers respect businesses that are organised and ready for anything. 

Stay competitive

It’s not only customers who respect your business when it’s prepared, proactive, and organised, but competitors, too. Stay on top of your game and command respect in your industry with a comprehensive, up-to-date business continuity plan. 

Cybersecurity is no joke

Statistics show that businesses face a ransomware attack every 10 seconds, and this figure is only set to rise as cyber hackers become more sophisticated. A business continuity plan ensures that you are ready for any cyber attack, from phishing emails to malware infections.  

Every problem matters

From a simple power outage to a full-scale natural disaster, business challenges come in all sizes. What’s important is that you know exactly what you’ll do, whatever dilemma comes your way.

Communication is key

The great thing about a business continuity plan is that it offers certainty by setting out steps to follow. A business continuity plan tells everyone who to contact when things go wrong, and how to communicate messages to personnel. The right strategy reduces the risk of miscommunications and misunderstandings.

Milan Industries puts businesses first. Our custom business continuity plans, based on your commercial priorities, help you keep your business running. To find out more about how we take your unique business challenges and turn them into opportunities, contact us today.  

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