Every business is at risk of disruption from a variety of threats, including fire, flood, loss of power or even loss of staff.
80% of organisations without a business continuity plan either never re-open or close within 18 months following a major incident. Almost 1 in 5 businesses suffer disruption every year.
What would happen if your business, organisation or association was involved in an emergency or disaster?
Business continuity combines a planned response with measures to reduce interruption and minimise losses. Without effective business planning, a disaster or an internal or external service disruption could result in:
- a complete failure for your business
- loss of reputation and/or customers
- financial, legal and regulatory penalties
- human resources issues
- higher insurance premiums
Business owners should carry out a short assessment that outlines what you need to consider to help you prepare for an emergency. It also will help you to evaluate your current business continuity arrangements and it should only take 10 minutes to complete.
Under the Civil Contingencies Act 2004, local authorities are required to promote business continuity planning to improve resilience in their communities. The five local authorities in Tyne and Wear provide advice and information: