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Business Continuity Planning (BCP)

BCP, or business continuity planning, refers to the act of planning for a worst-case scenario situation and determining how the business will recover from it. Generally, this information is outlined in a BCP document that takes a number of hypothetical scenarios into consideration. Some of the most commonly addressed situations in a BCP include natural disasters such as tornadoes and fires, power outages, cyberattacks, or a serious employee injury. In these cases, BCPs will cover ways to protect people and assets, how to reduce risks of further damage, and how to get the business back up and running once it is safe to do so.

What Small and Midsize Businesses Need to Know About Business Continuity Planning (BCP)

BCP is crucial for SMBs as they typically have limited resources. A disaster that causes immense financial loss or results in severe damage could be difficult or impossible to recover from if a SMB is unprepared. By assessing these risks and developing a plan in advance, the SMB is more likely to be able to bounce back.

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