How To Create A Small Business Disaster Recovery Plan
Nothing’s more disappointing and frustrating than doing everything you can to make your company successful, only to find out that a fire, hurricane, cyberattack, or other elements out of your control will force your business to shut down. Apart from that, disasters could have a devastating effect on small businesses. FEMA said that about 40% to 60% of small businesses that face a disaster were unable to reopen their business and around 90% of those that fail to reopen within 5 days after the disaster fail within one year. While bigger firms have the resources and time to plan for and survive these disasters, several small businesses have not set any plan in place for this kind of setback. That’s why it is important for small business owners to develop and update a disaster recovery plan on a regular basis. Here are the following steps you need to take if you wish to avoid a business breaking catastrophe.
Disaster Recovery Planning
Develop an Emergency Response Plan
What will you do when disaster strikes? What steps will you take to stay safe when there’s an emergency? What will your employees do to prevent the loss of property like assets and inventory? There must be a protocol in place as to who should be contacted in case of a disaster. Once you’ve come up and planned your protocol, delegate responsibilities, and hold training sessions so your staff knows what they need to do.
Create A Business Continuity Plan
As mentioned earlier, resuming business operations as soon as you can after a disaster is crucial. What is included in a business continuity plan?
- Business impact analysis – performed before a disaster happens. It will help you understand the effect of a catastrophe on your business.
- Recovery strategies – using the result of the business impact analysis, determine and take note of the resources needed to lessen the effect of a catastrophe and perform a gap analysis to know what you need compared to what you have.
- Plan development – create a framework. This include assigning responsibilities to your staff, codifying your disaster recovery Florence SC procedures, and creating workarounds for problems that come up as a result of IT infrastructure loss.
- Testing – will reveal weakness in your plan so you can make changes and retest it until you are satisfied knowing that your business will resume its operations.
Check Your Insurance Coverage
Companies must have insurance coverage but not all types of business insurance is helpful when disaster strikes. Check your existing policy and make sure that here are no gaps in your coverage that could prevent you from collecting.
Stock Important Supplies
What will your business, you, and your employees need after a disaster? You should create an emergency supply kit for your staff if a catastrophe endangers their physical safety. This should include cash, first aid, device chargers, and cash. You should also think of backup systems that will help your company resume its operations like a secondary communications system or power source.
Gather Important Contact Information
You should know who to contact when disaster strikes. Come up with a list of who you have to call like your clients and major clients, emergency management agencies in your local area, realtors, suppliers, lenders, insurance agents, and more.
Develop Communication Strategy
When communicating with clients and customers regarding the state of your business, you have to use every method possible. Choose both low tech and high tech methods. These include placing a notice in your local paper and posting updates on your social media account.
Report Losses to SBA
It’s important to report any loss you may have incurred after a disaster to the SBA or Small Business Administration. The latter offers access to resources, advice, and help to small businesses.
Talk About Logistics With Clients and Suppliers
You should talk to those at the end of your supply chain like your vendors or suppliers as they could also be affected by a catastrophe. Ask about their disaster preparation and determine backup solutions.
Backup and Duplicate Data and Records
You must have updated duplicates of all your contracts, documents, records, and store them off-site or secured in the cloud.
Click here to download the Disaster Recovery Planning Guide.
Protect yourself and your business from the possibility of a disaster. If you think your company is at risk for disaster, call SpartanTec, Inc. now.
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