Did you know that many insurers offer reduced premiums if you have a Business Continuity Plan in place?
Here are a few more reasons why you should have a comprehensive, up to date plan in place:
- 80% of all companies that undergo a major fire never actually recover – the National Audit Office
- 1 in 5 medium sized businesses will experience a major disaster in the next five years
- Of businesses that suffer a disaster, 60% cease trading within three years – Gartner Report
- Having a plan is seen by others as an indicator of good business management and will improve how others view you, whether they be potential investors, customers, partners, insurance providers or government bodies.
Despite that, you might be surprised to learn that a study undertaken in January 2009 by the Chartered Management Institute in conjunction with the Civil Contingencies Secretariat in the Cabinet Office found that less than 25% of small businesses have a Business Continuity Plan. If you are one of the 75% or if your plan is more than 12 months old, you might want to check that you have everything in place in the event of a disaster.
To see how your plan stacks up, download our Business Continuity Plan checklist here, then call us if you need some help.
Your business future in sure hands