Small Business Continuity Plan

Small Business Continuity Plan-11
These checklists can be included in the BCP and should be easily accessible to employees in the event that they are needed. Employees are the most vital assets of your business.Also, a safety plan must clearly identify who to call and what procedure to follow in the event of any type of emergency. Managing employees effectively in times of crisis is essential.Your BCP should outline the resources you’ll use to adapt your business flow if such an attack occurs. They include equipment, intellectual property, employees and inventory. A strong business continuity plan covers safety equipment and procedures.

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These weather events have also left cities without power and/or internet services for extended periods of time.

Flooding and fires can occur and cause terrible damage.

Determine what safety measures are already in place within your business – these will be included in your BCP.

Keep in mind; this evaluation should encompass the entire scope of your business. Identify the most likely disasters that could affect your business.

Let’s face it: you don’t always know when a disaster is going to strike your business.

There are occasions such as weather events or flooding when you get some advanced warning.FINRA is providing a template as an optional guide to small introducing firms to assist them in fulfilling their need to create and maintain business continuity plans (BCPs) and emergency contact person lists under FINRA Rule 4370.The template recognizes that many small introducing firms rely on parts of a clearing firm’s BCP for many of the mission critical functions of the introducing firm.Healthcare companies in particular have seen a dramatic increase in cyber attacks and ransomware attacks since 2017.Identify how security breaches or malware attacks could disrupt your business. Critical assets encompass more than just physical property.Decide what are the time-sensitive or critical functions you need for your business to stay afloat.Then, identify what and who is needed to maintain these critical functions.The US Small Business Association estimates that 25% of businesses don’t open again after a major disaster. That’s where a good Business Continuity Plan comes into play.A Business Continuity Plan (BCP) is a proactive approach to protecting your business should some kind of disaster strike.Another destructive event would be a security breach.Breaches in security have resulted in loss of revenue due to loss of client’s trust and loyalty.

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