How to Manage and Mitigate Business Growth Risks with a Business Continuity Plan (BCP)
Over 250,000 new startups are registered on companies house every year. Yet 75% of startups fail within 5 years due to failure to identify and prioritise business continuity risks. Over 50% of existing SME’s fail to develop and update a BCP using methods appropriate to their size and structure.
Tender Pre Qualification Questionnaires (PQQs) usually ask “Do you have a BCP?” Increasingly business buyers and government departments, local authorities and other public commissioners of work want evidence of a current BCP, in the same way as Health & Safety and employment procedures are requested. BCPs do not always need to be certificated to comply with ISO published standards for business continuity management, but they should adhere to nationally approved Responsible Business standards. Certified standards assessors can advise best options.
Why is having a BCP Important?
BCP enables winning public sector and larger commercial contracts, and also protects directors and managers against personal liabilities. The Companies Act and Corporate Manslaughter Act require directors to show due diligence, independent judgment and reasonable care. BCP protects a business by preparing and planning against potential denial of access to key business resources. A BCP will identify how to manage resources cost-effectively, mitigate potential losses by prioritising key operational risks and the actions required to address each risk.
BCP shows the resilience of a business, competitive advantage, helps win larger contracts, can save money on insurance, facilitate financial funding and ensure faster disaster recovery. It identifies exposures to internal and external threats, provides effective prevention and recovery, improves competitive advantage and systems integrity.
Workshop agendas are tailored to attendee needs and include:
- The benefits of BCP inside and outside your organisation
- Company Law regulations, Director risks and public liabilities
- How to structure your plan in relation to your size and sector
- How to encourage and engage stakeholders in co-developing your BCP
- Choosing and managing corporate partners to boost resources for growth
- Processes to identify and prioritise risks with proven models and frameworks
- Sharing and publishing the BCP with your supply chain
- How to select and manage qualified advisors with cost-effective outcomes
- Examples of entrepreneurial innovation actions to ensure sustainable growth
Please note: A minimum of 4 delegates are required to run this course. If this is not met then this course may be rescheduled.
