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The European business climate is rife with potential risks these days.Particularly in the UK, where Brexit has caused a relatively stable country to face polarization, borders are being hardened, corporate domiciles are in flux, and the regulatory environment is becoming more complex.As countries continue to adjust to GDPR and anticipate the looming economic implications of Brexit, these significant changes magnify and exacerbate the spectre of many risks, such as terror attacks, data breaches, supply chain disruptions and extreme weather events.
Business Continuity Planning can help your business become resilient.
It is a process of identifying and evaluating the risks to your business and then planning to enable the business to continue operating (and recover) if the worst happens.
These can be caused by many issues including; local fires, severe weather, pandemic illnesses, industrial action, insurance issues etc.
It is estimated that 40% to 60% of businesses disrupted from a disaster without a continuity plan will never recover - Find out what you can do and don’t become part of the statistic.
Plans become stale, risk management and compliance programs are disjointed, and attempting to utilize any of this information prior to or during a disruption can be cumbersome or even unmanageable.
In order to achieve true business resilience, organizations need to operationalize the data residing in risk and compliance programs by integrating this information with their business continuity management program.
Just as a business continuity plan should not simply be a compilation of documents in a binder or on a server somewhere, neither should it solely be designed to satisfy auditors and comply with regulations.
While compliance is necessary, it can represent the bare minimum and may give executives the illusion of meeting their fiduciary responsibility while actually leaving the business poorly prepared to manage an incident or disaster.
Please visit London Prepared for useful templates and guidance and a short self assessment tool.
According to AXA research, three quarters of small and medium sized enterprises (SMEs) are risking it all through lack of survival planning.