Emergencies can develop without warning, so you need to be one step ahead to ensure staff and customers remain confident in your reputation. Continuity plans help you to anticipate events so you can prepare for or prevent them happening, and have a strategy for recovery.
As an example, you know the UK has left the EU and that the transition period ends in December 2020. As such, you have got time to identify any risks and complete the next steps to mean you are ready for any anticipated changes to your business.
Once you have acknowledged the possible disruption, you also need to consider the worst case scenarios and how they might affect you. Consider the most extreme outcomes that this may have on your company. Planning what can go wrong costs very little and does not have to be time consuming. Plus, by doing this, you will be able to provide your business with more stability and resilience for the future.
North Yorkshire County Council offer free advice, which you can access by emailing firstname.lastname@example.org
Why are continuity plans successful?
Business continuity plans are useful because they allow you to prepare for the unexpected, manage risks and ensure your business can remain stable. If you prepare, then so can your staff, allowing them to know their roles in an emergency and business can keep running. It’s about maintaining normalcy.
More importantly, it does not just help maintain your business, but can also allow it to grow by providing opportunities to increase your revenue. For example, leaving the EU will alter trading links. To counteract this, you can look to alternative connections such as whether trading with countries like America is now more feasible. By identifying and acting on this sooner rather than later, you could potentially find better contracts and deals before your competitors do. Investors will also be reassured that you have contingency plans and have trust in your business management.
If you are expanding your business, you might also want to get better insurance coverage. By having a continuity plan, it has been found that you will be entitled to additional types of insurance, opening up new markets. Insurance firms also offer discounts on premiums if a client has a reliable continuity plan.
If you would like help to create your continuity plan, please get in contact.
Are you thinking about starting, growing, or scaling your business? Hear about how the Growth Hub helpdesk can help you by providing the latest business support, tailored to your needs.
Mike Pennington, a familiar name in the UK media industry, has recently joined the York & North Yorkshire Growth Hub as a Business Relationship Manager. In 2023, he'll be bringing his expertise to businesses in our region and connecting them with the Made Smarter scheme.
Employers across York, North Yorkshire and East Riding are being reminded that it’s their last chance to take advantage of free training and support through the Skills Support for the Workforce Programme before the it ends in March 2023.
15th February 20239:00 am - 5:00 pmFREE
This free drop-in service based in Harrogate can help answer your questions and direct you to relevant business support, resources and programmes.
22nd February 20239:00 am - 4:30 pmFREE
Are you a small to medium sized food or drink business that wants to win more business and need to plan the perfect pitch? This full day workshop will help you understand what buyers are looking for and give you the confidence to pitch to them.
01st March 20234:00 pm - 6:00 pmFREE
In this two-hour session, Ian Howard will introduce The Enterprise Growth Roadmap. Regardless of where you are at right now, whether you are just launching your business, trying to make sense of the number of opportunities available to you or looking to attract external investment, the Enterprise Growth Roadmap Planning Workshop will help you create a framework to develop your own growth strategy together with some simple steps to help you implement it.
A free digital glossary defining the key climate change terms relevant to businesses, to help you understand and engage with sustainability resources and support.
We have recently hosted a programme of in-person seminars and other events, some of which were professionally recorded and can now be viewed on our website.
This workshop will provide guidance on cost based pricing, calculating your costs before deciding an appropriate margin, as well as covering market based pricing asking questions such as: What value do you add? What are you worth? How do you position yourself?