What Steps Should I Take to Ensure Business Continuity in Michigan?

For many Americans, owning their own business is a lifelong dream. Many people work for years to build, operate, and grow their companies. Many Americans have succeeded in starting small businesses that have grown into larger corporations. Other Americans have developed smaller yet profitable companies that provide them with a steady income and personal satisfaction. Every business owner takes pride in their achievements.

While many business owners may have insurance to protect their companies against natural disasters, accidents, and other unforeseen circumstances, many companies do not have continuity planning strategies. While insurance will compensate businesses for material losses, a continuity plan is a strategy that ensures the company continues to function in the face of challenging circumstances. A business continuity plan can be vital for companies to maintain operations despite even the most significant disasters. This is why, if you or a loved one own their own company, it can be imperative to consult an attorney about developing your business continuity plan.

What is Business Continuity Planning in Michigan?

Business continuity planning is developing a corporate strategy for how business operations can and will continue in the event of unforeseen circumstances. These circumstances may include but are not necessarily limited to:

  • Natural Disasters (Tornadoes, Hurricanes, Blizzards, etc.)
  • Large-Scale Power Outages
  • Pandemics
  • Cyber Attacks
  • Civil Unrest (Riots, etc.)
  • Media Crises

A business continuity plan is a type of strategic insurance. It’s a “worst-case scenario” playbook that outlines what can and should be done if a specific incident interrupts normal business practices.

A business continuity plan will consider several factors, including who is necessary to keep business operations running smoothly, the minimum resources necessary to keep the business running, and more. It will also consider what steps may need to be taken to restore business functions to full functionality if no internal steps can be taken, such as in the event of a hack or cyber-attack.

How Do I Develop a Business Continuity Plan in Michigan?

Developing a business continuity plan can be a complex process. This is because the first step in developing any comprehensive business continuity plan involves a thorough assessment of your company’s vulnerabilities and potential threats it may face. Potential threats to your business may vary according to sector, geographic location, and other factors.

For example, a company based in the Northeast United States may need to plan for blizzards that strand employees, interrupt supply lines, interrupt communications, and take out electricity. These circumstances may be long term based on the duration of a blizzard. In these circumstances, continuity planning would involve having backup communications strategies, transparent chains of command, and access to pertinent company information for authorized individuals. This may involve legally designating specific individuals with different temporary powers to ensure uninterrupted operations.

A company may need to be prepared for a media crisis. This could involve rumors being spread about the business, one or more of its employees or even an employee being arrested for alleged crimes. Especially in the internet age, media, and social media coverage can have a tremendous negative impact on a company if it is not prepared with a strong response. A business continuity plan can ensure that a media response team is on standby if your company is suddenly thrust into an unflattering spotlight. In the event anyone needs to step down or go on a temporary leave of absence, a business continuity plan can have procedures in place to replace that individual and ensure a smooth transition of power.

The same is true for companies facing other potential external threats. A company located in a part of the world subject to geopolitical turmoil needs to have security procedures and processes in place in the event of civil unrest, riots, or regime change. This may involve protecting employees while they shelter in place or even potentially evacuation strategies to remove vulnerable individuals from a building, city, or country. In this case, private security experts may become valuable players in a continuity plan.

These are only a few of the potential scenarios that require a company to have a continuity plan. Business attorneys are experienced in continuity planning and will know how to perform a comprehensive risk assessment of your company to determine its potential threats.

What Should I Do if I Need to Develop a Business Continuity Plan in Michigan?

No one likes to think about potential threats to their livelihood. However, planning for the worst does not mean anticipating the worst. It simply means being prepared in the event something negative occurs. Business continuity planning is like a form of insurance. No one buys car insurance hoping to get into a wreck, but having car insurance provides a safety net in the event it happens. The same is true of business continuity planning. Having a continuity plan can help ensure your company survives and thrives through any circumstance. For example, many businesses that weathered the COVID-19 pandemic did so through effective business continuity plans.

If you or a loved one are a business owner and need to develop or reevaluate your business continuity plan, don’t hesitate to contact the attorneys of Kendal Law Group PC, located at 4190 Telegraph Rd, Suite 3000, Bloomfield Hills, MI 48302. The attorneys of Kendal Law Group PC are experienced in developing business continuity plans for a wide array of companies across multiple different sectors. They can help you review your normal business operations and assess potential threats due to geography, geopolitics, and other factors. They can then help you devise effective strategies for responding to these threats and ensuring your company continues functioning with minimal interruption in standard operations.

You can’t put a price on peace of mind. With Kendal Law Group PC’s business continuity planning, you can rest assured that your company is ready to face any challenges. If you or a loved one are a business owner, call Kendal Law Group PC today at 248-609-1718 or email them for a free consultation.