Why You Need a Reliable Business Continuity Plan
You’ve likely heard that nearly half of all new businesses fail. According to the Small Business Association (SBA), 50 percent of businesses fail during the first five years. Over a 10-year span, the percentage increases to 66. But what can be done to avoid this? A business continuity plan. While it’s difficult to determine the percentage of businesses that have a continuity plan in place, one thing is certain: it’s better to have one than not. A business continuity plan is a process by which businesses can prepare themselves to weather the potential threats that are always on the horizon, keeping their project plans, schedules and processes intact. Before we dive into what is a business continuity plan and how to write one, let’s quickly define business continuity planning.