No matter how much you plan for the worst and hope for the best, no company is immune to disaster.
However, this doesn’t have to discourage you. There are steps you can take before, as well as after, a business interruption.
What is a business interruption?
A business interruption is anything that prevents your company from conducting its normal business for any amount of time. This may be a natural disaster, a structural problem in the company’s building, or something else that makes the normal flow of business either impossible or dangerous.
Sadly, many companies never recover from serious interruptions. Other companies may continue to operate, but may not regain the trust of shareholders and employees. You don’t want yours to be either of these, so act now to ensure that you’re prepared for the unexpected.
How can a company prevent interruptions?
Some interruptions can’t be prevented, such as natural disasters. Others are simply too hard to predict. What a company can do, however, is plan their response to an interruption. Businesses are encouraged to take these steps to mitigate as much damage as possible in the event of a serious interruption:
- Determine the types of interruption that are most likely to occur. Is your business likely to be robbed? Is your area prone to flooding or other weather-related disasters? Are there structural problems with the building that you’re aware of and have put off fixing? Have you been warned of a possible data breach? While you can’t predict the future, some things are obvious if you’re being realistic.
- Above all, ensure the health and safety of your employees, clients, and all others who would be affected if a disaster were to occur.
- Decide which operations are essential and which can be sacrificed.
- Protect as much as you can. Critical data, such as business records or the personal information of your clients, should be stored securely.
- Consider alternate locations which you could use temporarily if your facility becomes unusable.
A failure to plan ahead is a failure to act in the best interest of your company and its shareholders. Interruption planning is complex, but it’s a crucial step to ensuring your company’s viability, as well as its integrity.