What's business continuity planning?Tue Dec 02 12:21:25 GMT 2014
Business continuity is the plans put in place by a business to make sure it could continue to trade if the unexpected happened.
To make sure the business can continue, the owners - who may be key to the business themselves - need to consider if their business:
- could continue to trade or would suffer financially if it lost an employee who was key to the business
- would have the necessary cash flow to replace any loss of profit or repay any outstanding loans, including directors’ loan