It has been a challenging and eventful three years for UK businesses with a series of high-profile incidents highlighting how situations can change suddenly and often without warning.
From the continued pressure of uncertainty relating to Brexit, terrorism, ire, extreme weather and cyber-attacks, how would your business cope if it was affected by something similar?
Would your staff know what to do? Would the business be able to keep trading? And what about smaller events, like your biggest customer suddenly switching to a competitor or multiple staff experiencing sickness issues?
If you do not already know the answer to these questions, then it’s time to start building a contingency plan for your business.
Many small businesses are heavily reliant on key personnel, often the owner-manager, and it is easy to ind yourself in a situation where a lot of the key information exists only in that person’s head.
But what would happen if they weren’t there?
Putting in place contingency plans can give you the peace of mind that everything could continue without key personnel, with the added bonus that it should make the business more organised and efficient.