“Economic resilience can be strengthened by implementing policies aimed at mitigating both the risks and consequences of severe crises.”
Organization for Economic Cooperation and Development
At Business Continuity Planning Australia (BCP-AU), we assist small businesses and entrepreneurs to thrive!
Whether you make products, sell goods, or provide services; every small business owner must oversee the fulfillment of operations that are critical for business survival. Enhanced business continuity planning will help businesses to be more resilient to the impact of unexpected events.
In 2018, the American National Institute of Building Sciences released a report named Natural Hazard Mitigation Saves, which examines the cost savings of preparing for natural disasters, many of which are worsened by climate change. The report made a compelling case for advanced planning, finding that for every $1 invested in federally funded pre-disaster mitigation grants, society saves $6 and for every $1 spent on building codes, society saves $4. If the same allocations were applied to small business, that for every $1 spent in business continuity planning, the cost savings to your business could be $4 to $6.
In terms of cost savings, the Organization for Economic Cooperation and Development deems that “economic resilience can be strengthened by implementing policies aimed at mitigating both the risks and consequences of severe crises”.
…for every $1 invested in federally funded pre-disaster mitigation grants, society saves $6 and for every $1 spent on building codes, society saves $4.
National Institute of Building Sciences, 2018.
BCP-AU provides services in Business Continuity Planning and advice to help build organisational resilience into your small business.
There are many benefits for you, as a small business owner, in having a Business Continuity Plan and understanding the processes of BCM.
Following business continuity planning principles helps you to efficiently manage budgets, resources and systems that build resilience into your organisation. The result is a business that is more manageable, profitable and can bounce back quickly after a crisis or disaster.
Let us help you with risk management ideas to improve your current business plans. Make an appointment with us to discuss how we can help to build resilience into your business at: www.bcp-au.com/bookings
National Institute of Building Sciences, 2018. Natural Hazard Mitigation Saves: 2017 Interim Report. [Online] Available at: https://enews.nibs.org/t/r-A40041C9475B66082540EF23F30FEDED
[Accessed 20 October 2021].
Organisation for Economic Co-operation and Development, 2017. Economic resilience. [Online]
Available at: https://www.oecd.org/economy/growth/economic-resilience.htm
[Accessed 17 October 2021].