A step-by-step guide to creating a business continuity plan

/ BLOG

A step-by-step guide to creating a business continuity plan

Being a small business owners means there are many different areas of your business to manage and take care of. While you may follow all the correct procedures and ensure that your workplace has the correct measures in place to protect it, the truth is you need to expect the unexpected. Unwanted challenges like natural disasters and even cyber attacks on your systems can crop up out of no where causing major havoc to your business.

That’s why having a business continuity plan can help prepare your business for those unpredictable moments. Our simple guide looks at some of the things to include in your plan to help your business be ready for whatever life throws at it.

What is a business continuity plan?

It’s a plan of how your business will respond when faced with events which may cause disruptions to the operation of your business like a fire or storm for example. The goal is to cause as minimal impact of possible of the operation of your business, so you can get back up and running as soon as possible.

What risks?

Different businesses will be exposed to different types of risks, for example a tradie will be faced with different risks then that of an architect. Take some time to identify what kind of risks may potentially cause an impact on your business like overhanging branches at your business premises or outdated IT security systems, causing an opportunity for major disruptions to your business.

Preventative measures

Taking the right steps to mitigate and eliminate a risk before it becomes a problem is a valuable step you can take when protecting your business. This can be done with things like ensuring your business premises is secure, that your staff are properly trained and aware of what to do in an emergency and having the right business insurances in place like Public Liability, Professional Indemnity insurance, Business Interruption and Business Insurance*.

Action plan

Outlining the steps on what needs to be done if an incident does occur can help everyone in your workplace. Things like fire drills, access to the first aid kits, a list of emergency contact numbers and a clear process can help keep the risk of the incident from escalating. Make sure these steps and processes are regularly communicated to your team.

Getting back to business

Another important component to your business continuity plan is outlining how your going to get your business back up and running. Prioritising what needs to be done, what resources are required and an outline of the steps needed to help you get there.

If you need to get your business insurance, BizCover is here to help. We do the shopping around for you and cover over 6,000 different types of occupations in Australia. Get a quote by jumping online or giving us a call today for business insurance solutions without the drama.

*This information is general only and does not take into account your objectives, financial situation or needs. It should not be relied upon as advice. As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording.
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