06/04/2011
Business continuity has proven to be very relevant for SMEs, after one expert claimed that they could "benefit" from implementing procedures to deal with the unexpected.
Writing for Managers.org.uk, expert John Sharp made the claims; adding that despite SMEs being smaller, and therefore finding it easier to recover from disasters, they still had to have adequate plans in place.
The industry leader argued that as: "SMEs are less resilient, have more financial pressures and are heavily reliant on customer loyalty," good business continuity was an integral part of their operations.
He went on to cite the difficulties SMEs could have in the event of a disaster, claiming: It's the simple things - such as losing your contacts - that ruin businesses...however, the message from SMEs is clear - if the crisis hasn't happened yet, it's not urgent enough to plan for."
This is the wrong attitude to take, Sharp commented, as by pre-planning and taking every precaution to mitigate any damage, SMEs can recover from crisis before they do become full disasters.
By doing this, Sharp said: "You will minimise the cost of disruption, maintain customer loyalty, protect your business and remain competitive."
Those worried about how much it will cost to implement a business continuity policy that meets the official BS25999 standard shouldn't; as by using factoring services to free up cash, SME owners can re-invest back into their company. When compared to the potentially devastating effects a major disaster could have a company, the costs will seem minimal and worthwhile.
Sharp's comments were mirrored by Talking Business Continuity; which confirmed that no matter what size an organisation was, business continuity would always be relevant.
It also said that companies operating in the financial, transport and public sector industries may be most at risk.
Deborah Bates