Business Continuity Plan

March 18, 2020
By: Tiffany Whitelaw

We are all working through the wake of the current coronavirus (COVID-19) pandemic.  How business is being done is rapidly changing due to government-mandated restrictions and the need to keep employees and consumers safe. As an employer of a small business, how do you limit the disruption to your business and ensure you will be a viable entity going forward?

  • Examine your cash flow. Are revenues going to be shifted to another period or are they stopping completely? Will you have the cash you need to continue to operate, pay rent, and pay employees? Make sure you have accurate accounting information about your cash flow so you can make good management decisions.
  • Assign someone to spearhead the potential changes in operations for your business. Do you also have someone assigned to frequently watch for government updates released to ensure you are compliant?
  • Ensure you have a communication plan in place. What is your plan to continue communication both internally and externally with those working remotely and clients that may now be at a distance instead of in your lobby? Where can your employees receive information about changes in their work schedules or assignments? How can your clients reach you and get the services they still need?
  • Review your technology and information systems. What technology do you need to allow your employees to work remotely and allow your customers to reach you?

Most importantly, remember to stay calm, focus on the facts, and ensure you are complying with any government-mandated restrictions or laws passed.  Give us a call if you need help reviewing your cash flow and coming up with a plan to ensure your business will keep functioning and thriving. We would love to support and help your small business navigate through these uncertain times.

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