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The Business Case for Preparedness
Assuring Continuity / Survival of the Business
May 23, 2008 11:49 PM
43 percent of companies impacted by a severe crisis never reopen. 29 percent of those that do reopen fail within two years.
Source: "Business Continuity Planning: Your Insurance Policy Against Disaster Disruption," Cablevision Systems Corporation, Cablevision Systems Corporation, 2006
Key Points:
* How prepared is your business to operate through a disaster? That is the essence of Business Continuity (BC). It's more than simply how to get back in business after a disaster. BC covers the processes and procedures your organization has in place so that it can operate continuously through any kind of disruption."
* What you're insuring against is nothing less than the possible survival of your business. The American Red Cross estimates that as many as 40 percent of small businesses that experience a disaster never reopen. According to a study by Datapro Research Company, 43 percent of companies hit by severe crises never open their doors again. Worse yet, the crises have a rippling effect, which causes another 29 percent to fail within two years. While small and mid-sized businesses often have the most to lose in a disaster, they are often the least prepared."
Link: http://www.optimumlightpath.com/mediaassets/businesscontinuitywhitepaper.pdf