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Headline grabbing disasters aren’t
the real threat to your livelihood:
business failure is much more likely
These are the real threats: regulatory compliance, fire, flooding,
theft and vandalism, chemical spills, utilities failures, postal disruption,
key machinery failure, product failures, IT and telecoms failures,
denial of access to premises, loss of a key client or supplier, loss
or absence of key personnel, fuel crises and severe weather.
Industrial plants do explode, but more insidious threats exist, such
as the workman who drills through a power main, or the water tank
which overflows during a weekend. These can interrupt businesses
for a week or more. Apart from physical disasters, key staff may go
absent unexpectedly or a key supplier or client fail, placing stress
and the threat of failure on your business.
Worse still, by not having a testable plan to deal with these events you
may be in breach of your regulatory obligations, leave yourself open to
claims from stakeholders, or even find your professional indemnity or
business interruption insurance void, just when you need it most.
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