YOUR BUSINESS
Dealing with the
unpredictable BY SMALL BUSINESS DEVELOPMENT CORPORATION
T
hey say there is nothing as constant as change. However, since the COVID-19 pandemic took effect across the world, it’s clear that the most predictable factor for businesses this year will be unpredictability. The February lockdown of the Perth, Peel and South West regions and local bushfires are some examples of the occurrences that can unexpectedly disrupt businesses.
Even the loss of key staff members or the breakdown of important equipment can cause big challenges.
The most predictable factor for businesses this year will be unpredictability.
You may wonder how you would continue to operate in the face of these unpredictable events. Developing a business continuity plan can help you plan for the unexpected, minimise disruption and be more in control of what happens when things go wrong.
What is a business continuity plan? A business continuity plan is a document that outlines the main steps your business will take to continue operating in the face of disruption. It can be as simple as storing your comprehensive insurance policy, a list of emergency numbers and important documents in a safe place.
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In contrast, it can be a very comprehensive document that details alternative production and supply options, all business contacts and a communications strategy — all ready to go at a moment’s notice.
Whatever form your plan takes, it should be stored in a location that it can be retrieved from, even if your main business premises can’t be accessed.
