Broker Check

Preparing Your Business for Crisis

May 09, 2024

One thing we all learned throughout the Covid pandemic is that life is unpredictable. That's why it's essential to have a  documented Business Continuity Plan (BCP) in place to help your company stay afloat during unexpected times of crisis. This is especially true for small business owners. They frequently lack the time and resources to create a formal BCP, yet they are often the most significantly impacted in times of crisis.

Continuity plans lay out the critical elements for keeping your business operating under abnormal circumstances. For example:

  • How and where is your business data backed up?
  • How will you communicate with clients and customers?
  • Is there an alternate business location if your building is destroyed?
  • Do you have an inventory of all your supplies and equipment?

There is SO much more to consider.

If you don't yet have a BCP, we can help. Attached is an in-depth, step-by-step guide for planning how you’ll navigate and recover from an unexpected event. A BCP forces you to take the necessary steps to ensure your business can function properly during any crisis by anticipating your company's needs and identifying and fixing any weaknesses. Your customers and clients will appreciate that you've taken the time to contemplate how to continue serving them, come what may.

Any type of business interruption can be detrimental without a contingency plan in place. And it doesn't take something as awful as a pandemic to wreak havoc on your business. So be prepared. 

If you'd like to be partnered with a financial resource who cares about and understands your business, let's connect! We have a passion for helping business owners like you, and we'd love to discuss creating a custom plan targeting you and your business's long-term financial success.