Why is business continuity planning important?
1 in 4 businesses that close due to an unforeseen event will never reopen.
Despite growing evidence that preparation is key to surviving a business emergency, more than 60 per cent of small businesses do not have a formal emergency response plan. A business continuity plan, if implemented and maintained, can be the difference between successfully recovering from a business interruption and going out of business.
Megson FitzPatrick is happy to provide you with a comprehensive toolkit that covers the seven critical activities your organization needs to implement before, during and after a business interruption:
1. Direction and Control
3. Life Safety
4. Property Protection
5. Community Outreach
6. Recovery and Restoration
7. Implementation and Maintenance
For instant access to the “Business Continuity Toolkit”, please complete the contact form or call us at 1.888.595.5212.
To learn more about the Megson FitzPatrick and our Risk Management process please visit our 3byFive page.
1 in 4 businesses that close their doors due to an unforeseen event will never reopen. A statistic that is quite scary to many small to medium business owners, as creating a business continuity plan can be quite a daunting proposition. But before you start creating a plan, how can you analyze your risk and know what focus your plan should have?
For BC businesses, particularly ones based on southern Vancouver Island, preparing for a major earthquake is a no brainier; but what other risks exist in your business, that could jeopardize its future?
Megson FitzPatrick is happy to help with this analysis. Our 3byFive model is about starting with the risks that face your business not the insurance. Here is our Vulnerability Analysis tool , this only takes a few moments to complete, but it will give you a clearer picture of what risks your business is facing.
If at any time you would like some assistance with the Vulnerability Analysis, or would like to discuss the results with a Risk Advisor, please contact us: firstname.lastname@example.org
Startling but true: Up to 40% of businesses that are forced to close their doors due to a disaster will never reopen.
With the odds stacked against a businesses survival and with the likelihood of a major earthquake hitting Southern BC within the next 50 years, being prepared shouldn’t be an option. A solid Business Continuity plan combined with Business Interruption policy is a great way to protect your investment and avoid becoming a statistic.
To learn more click here: Are You Prepared if Disaster Strikes?
A major Earthquake is due to hit the BC coast at any time, this is a 1 in 500 year event and the last one was over 400 years ago. The odds of a major (8+ on the Richter scale) happening here in the next 50 years is 1 in 3. This Earthquake and potential following Tsunami is expected to create over 75 billion dollars of damage and nationwide economic impact.
The question is how well are we prepared? The answer to this is not very well. To many, the reality of this overwhelming and a scary thought for us all. However, taking steps to be ready one step at a time will make all the difference when the quake hits.
Check out this video from Shake Out BC on the facts around “The Big One” and how you can be best prepared.