{"id":4181,"date":"2012-05-15T12:13:14","date_gmt":"2012-05-15T12:13:14","guid":{"rendered":"http:\/\/www.policybee.co.uk\/blog\/?p=4181"},"modified":"2024-07-22T12:04:41","modified_gmt":"2024-07-22T11:04:41","slug":"business-continuity-are-you-prepared","status":"publish","type":"post","link":"https:\/\/www.policybee.co.uk\/blog\/business-continuity-are-you-prepared","title":{"rendered":"Business continuity: are you prepared?"},"content":{"rendered":"\n

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\"Business<\/figure>\n<\/div>\n\n\n

SMEs, as we\u2019re regularly reminded, are the UK economy’s engine room. That’s why business continuity is important – so they can keep on doing what they do <\/p>\n\n\n\n

And with so much riding on small businesses making money and creating jobs, it\u2019s vital they\u2019re able to do that without something dragging them down.<\/p>\n\n\n\n

So, it comes as a surprise to learn that the majority of SMEs are not only blissfully unaware of their important role but are oblivious to the risks of being unable to do it. And have no idea how to protect themselves if something means they can’t.<\/p>\n\n\n\n

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Line of most resistance<\/strong><\/h2>\n\n\n\n

That’s a bit odd. Why make life more difficult for yourself?<\/p>\n\n\n\n

Surely, if at all possible, you’d want to make business continuity a priority and minimise any potential effects of unforeseen circumstances on day-to-day operations. That\u2019s just common sense, isn\u2019t it?<\/p>\n\n\n\n

And yet, when Axa did some research back in 2011, they found that a quarter of SMEs couldn\u2019t name a single risk to their business. Not one.<\/p>\n\n\n\n

Half didn\u2019t have a business continuity plan in place; with some not seeing the need to have one at all. Only a third had any kind of business interruption insurance<\/a>.<\/p>\n\n\n\n

This, despite a year of riots, strikes, bad weather, technology outages and endless supply-chain problems from Asia.<\/p>\n\n\n\n

What other reasons do you need?<\/p>\n\n\n\n

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Why business continuity matters<\/h2>\n\n\n\n

Now, we know what you\u2019re thinking.<\/p>\n\n\n\n

It\u2019ll never happen to you, you already have all the business insurance you could ever need and this is just another hassle\/expense you can do without.<\/p>\n\n\n\n

Yep, OK, fair enough. But stop for a minute and think \u2013 really think<\/em> \u2013 about how your business would cope if outside forces stopped you from trading. How many days can you afford to be out of action before it impacts your revenue? Can you do enough to keep your clients onside in that time?<\/p>\n\n\n\n

One thing’s for sure: your customers don\u2019t want to hear about a burst pipe or a snow-blocked road or a fire or that meteorite. They just want what they\u2019ve paid for and they\u2019ll quickly move to a business that can help if you can\u2019t.<\/p>\n\n\n\n

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Keep on running<\/strong><\/h2>\n\n\n\n

Thankfully, there are things you can do. And they needn\u2019t be the financial or logistical burden you might think.<\/p>\n\n\n\n

You could start by finding out more about business continuity by taking a look at the Business Continuity Institute website<\/a>. There\u2019s a wealth of advice on there as well as information about relevant events they run.<\/p>\n\n\n\n

In the meantime, here are some practical things you can do today:<\/p>\n\n\n\n