What is business continuity planning?
Business continuity planning is the process of preparing for interruptions to business operations. The process includes creating and validating a practiced logistical plan for how a business will recover and restore interrupted functions within a predetermined time after a disaster occurs. This logistical plan is known as a business continuity plan.
Why is it important to have a business continuity plan?
By creating a business continuity plan you will be prepared for the possibility of business interruptions and have a plan to recover from it as soon as possible minimizing the effect on your business. At least one-fourth of all businesses that close because of a disaster never reopen. Small businesses are especially vulnerable because very few have the resources or knowledge to assess disaster risks and develop comprehensive mitigation and recovery plans.
How to create a business continuity plan?
The Institute for Business and Home Safety offers a variety of tools in its Open for Business® series to help small business owners prepare a business continuity plan. Business owners should use the disaster planning toolkit online to protect their company, employees and customers from disaster loss. This service is offered free-of-charge as a Farm Bureau Insurance member-customer benefit.
How important is it to review, update and practice the plan?
Being prepared is half the battle, so make sure your plan will work and everyone is trained prior to the disaster. You will need to review, update and practice the plan with your employees on a routine basis. An outdated plan will not help anyone nor will trying to make sure everyone understands it during a disaster.
Get Started Today
Create a business continuity plan today. This service, valued at more than $2,000, is free for Farm Bureau Insurance customers. Read the Open for Business®, A Free Business Continuity Planning Tool to learn more.