Business continuity planning is vital to good business management strategy. Yet most management teams do not give it the required attention or resources. Why? One of the most common beliefs held by many in business is that a disaster simply won’t happen to them.
Statistics however tell us a different story: 20% of all companies will suffer fire, flood or storm, power failures, terrorism or hardware or software disasters. According to Contingency Planning Research & Strategic Research Corporation: 43% of U.S. companies experiencing disasters never re-open and 29% close within 2 years. According to Aveco, 20 percent of companies will suffer fire, flood, power failures, terrorism or hardware or software disaster. Of those without a business continuity plan: