Working on a business continuity plan? 6 questions you need to ask first…

Amongst all the upheaval of setting up a new business, it can be easy to forget about all the “what-ifs” that should be considered. 

A new business venture is exciting. Who wants to sit around and think about the worst-case scenario? 

Nevertheless, having a business continuity plan is the best way to protect yourself against future disasters. 

They can and do strike. So, preparing for them may be the smartest decision you make.

What is business continuity planning?

Business continuity planning is about having a recovery plan in case of events like:

 

  • Fires
  • Floods
  • Other natural disasters
  • Cyber-attacks 


It means protecting against anything that can bring your business to a halt. Most Australians are familiar enough with natural disasters to be aware of the possible impact on a business. 


Protecting your business and your assets in just good common sense. 


But where do you start? 

 

Following are six questions you should ask before starting your business continuity plan.


1. What are the potential risks for my business?

The first step to protecting yourself against potential threats is to identify them. 


In Perth, your potential risks probably do not include icy conditions or frozen pipes. 


Instead, you should be thinking about issues such as loss of heat, fires, and wind or water damage. 


For a better idea, look at the area in which you conduct your daily operations and assess property damage risks.

 

2. How will I inform stakeholders if disaster strikes?

Having a communications plan is a crucial part of business continuity planning. 


An e-mail alert system, phone, and social media are all useful ways of keeping employees and key stakeholders up to date with the situation. 


Make sure that you can access all these platforms on your mobile phone so that you can keep everyone updated and let them know that you're still in business!

 

3. How important would IT recovery be for returning to daily operations?

If returning to normal IT operations is a key part of getting your business back on track, consider implementing an IT recovery plan. 


This could help reduce downtime and allow employees to get back to work quickly and efficiently.

 

4. Do I have enough insurance?

Contact your insurer to discuss whether your policy is appropriate for your needs. 


Having a good insurance policy will help you rest easy, even in the event of an emergency.

 

5. Am I backing up important data?

Whether you are doing it through Dropbox, iCloud, Google Drive or another backup provider, it is essential that your company's vital information, including invoices and records, are kept safe.

 

6. Is my plan workable in the real world?

Your business continuity plan should be tested by running drills with your staff. This will help you fix any imperfections and make sure that you have a workable plan before disaster strikes. 

Working on a business continuity plan now or in the near future? 

If you’re a Perth small business and need help putting your plan together, or any other small business advice, our friendly team is waiting for your questions.

Need help with your accounting?

Find Out What We Do
April 14, 2025
Thinking of buying or selling a business in 2025? Now might be the perfect time to make your move. With interest rates tipped to drop, new regulations coming in 2026, and a surge in buyer activity, the opportunities are out there. Click the link to learn more.
April 14, 2025
If you're running a business or earning investment income, you’ve likely come across the term PAYG instalments — but many people still aren’t clear on what they are, how they work, or why they’re even in the system in the first place. We’ve got you.
April 14, 2025
Thinking of selling your business? Buyers are looking at three key components: Goodwill, Plant & Equipment and Stock. Did you know they impact how much tax you’ll pay?
April 14, 2025
From adding a bedroom to updating flooring or a kitchen refresh, smart changes can boost rental income and capital value. Learn more in our latest article.
March 14, 2025
If your business interacts with the public — whether through customers, suppliers, events, or onsite work — public liability insurance can protect you against claims for injury or property damage. This generally covers legal costs and compensation, and although it’s not legally required, being sued for negligence can be costly (and bad for your business rep), so it’s highly recommended.
March 14, 2025
Co-owning a property can be a practical and financially beneficial arrangement, but when circumstances change, sometimes one party needs to jump ship. Whether due to financial strain, health issues, relocation, relationship breakdown, or differing property goals, it’s not uncommon for one co-owner to buy out the other. While this process may seem straightforward, there are several financial and legal considerations to consider.
More Posts