Business Continuity Plan: why do I need one?

Being prepared in the event of a major catastrophe impacting your business will not only help your business survive but also help you bounce back faster.

Why?

• At the time of a major incident, stress and time pressures make it quick, rational decision-making more difficult
• Major incidents may impact your communications network making it harder to communicate to others what is required of them
• Planning ahead gives you time to access specialist advice where necessary
• Planning ahead can actually prevent or minimise the impact of certain risks
• Business Continuity Planning works as a basis for your insurance programme so you know exactly what you need to insure – this is particularly true with Business Interruption insurance, which essentially is a tool to fund your Business Continuity Plan

For further advice re what should be included and how to get started, please follow this link to LMI: http://cms.lmigroup.com/bi-explained/au/business-continuity-planning/