Business continuity planning: a strategic asset for SMEs

“We’re too small for that”, ‘It won’t happen to us’, ‘It’s the big companies that need BCPs’: these are all phrases, often heard, that reflect a false perception by SME managers of the relevance of a business continuity plan (BCP) for their company. Yet SMEs are often the most vulnerable to disruption, and the hardest to recover from a disruptive event due to lack of preparation and resources.

Whether it’s a fire, cyber-attack, technological failure or natural disaster, these major unforeseen events can paralyze a business in a matter of hours, whatever its size. So let’s face it: without BCP, the consequences for an organization can be irreversible.

If you’re an SME owner, we invite you to discover the benefits of such a plan, the disruptions most likely to affect you, and some food for thought to help you assess your current level of preparedness. As the aim of this article is to raise your awareness, we will limit ourselves to a few case studies.

 

BCP: added value, not a constraint

A BCP is not insurance, but a proactive strategy to reduce the impact of a crisis and maintain a minimum level of operations until full recovery. This tool offers multiple advantages, such as :

• A competitive advantage: a company with an established BCP inspires confidence in its customers/clients, partners and insurers. It becomes a more reliable supplier, able to ensure continuity even in times of crisis.
• Economic leverage: an unprepared interruption can be extremely costly in terms of direct and indirect losses. A well-structured plan drastically reduces these losses and limits downtime.
• A protection tool for your employees: it ensures employee safety, maintains their commitment and avoids disorganization in the event of a crisis.
• A better ability to adapt: in a world where crises of all kinds follow one another, whether economic, political or climatic, the most resilient companies are those that can react quickly and effectively.

A BCP should therefore not be seen as a simple contingency plan. On the contrary, it is a genuine strategic asset. In an uncertain environment, adopting such an approach means transforming risks into opportunities, and ensuring the continuity of your business.

 

The most common interruptions for SMEs

Major disruptions don’t just affect large organizations. In fact, SMEs are often more fragile, as they have less financial and operational leeway to absorb a shock.

Here are a few specific examples of events that can have a direct impact on a company:

• A cyber attack that blocks access to computer systems ;
• A major failure of technological systems;
• A prolonged power failure;
• A prolonged absence of several key employees at the same time;
• A loss of critical suppliers;
• Prolonged loss of access to facilities;
• A fire in the facilities;
• A flood that forces the temporary closure of offices.

Obviously, not every organization is exposed to the same risks, depending on the nature of its activities and its physical location. That’s why it’s important to identify precisely the threats that could affect your organization, and to develop a BCP that’s tailored to your needs.

 

Is your company ready?

In order to determine whether your company is ready to face the hazards mentioned above, we invite you to ask yourself these questions related to various aspects of your operations:

Risk awareness

• Have you identified the main risks that could affect your business (cyber attack, power failure, natural disaster, supplier problems, etc.)?
• Have you assessed the potential impact of each risk on your finances, operations and reputation?

Plans and documentation

• Does your company have a structured plan in place in the event of a major disruption?
• Is your plan regularly updated to reflect changes in risks and operations?

Physical location, equipment and vehicles

• What have you planned if you can no longer physically access :
  • Your building for a long period (e.g. maintaining production, accessing inventory, etc.)?
  • Your fleet of vehicles and/or trailers?
  • Your equipment located within the perimeter?
  • Your vital documents and information?
  • Your technologies?

 Managing employees and responsibilities

• Does every employee know what to do in the event of a major incident?
• Have you identified key roles and substitutes in the event of the prolonged absence of certain people?

Technological and operational continuity

• Do you have backup systems and alternatives in the event of a computer breakdown?
• Are you able to work temporarily remotely if your offices are inaccessible?

 Communication and coordination

• Do you have a communication strategy to inform your customers, employees and suppliers in the event of a disruption?
• Do you know how to quickly contact the right people (managers, critical suppliers, major customers, etc.)?

 Tests and simulations

• Has your company ever tested its continuity plan in an exercise or simulation?
• Have you identified potential weaknesses and areas for improvement following the exercises?

Answering these questions will give you a clearer picture of your company’s resilience to the unexpected. Good preparation will not only enable you to react effectively in the event of a crisis, but also minimize the consequences for your operations, finances and reputation.

 

A proven approach tailored to SMEs

At Benoit Racette Services-conseils inc. we know that SMEs don’t have the time or resources to develop a complex BCP. That’s why we’ve developed a methodology that’s simple, effective and adapted to your reality.

Thanks to our services, you’ll obtain a pragmatic strategy, i.e. a concrete, realistic plan that can be put into action immediately in the event of a crisis. Our flexible, efficient approach minimizes implementation time while maximizing results. You’ll also benefit from our personalized support.

Don’t let the unexpected jeopardize years of hard work: get ready today by contacting us at [email protected].