Only 57 percent of small businesses say they are prepared to handle natural disasters. Moreover, 27 percent of small businesses had to close their companies in the past year due to weather related issues, according to Office Depot Inc. survey results released in July.
The survey, conducted in May 2015, involved 1,500 small business owners.
When it comes to disaster recovery, many small businesses and their IT partners focus first on business continuity, data backup and data recovery.
But the plan should also include some basic nuts-and-bolts provisions -- first aid kits, fire extinguishers and flashlights, notes Office Depot. (Naturally, Office Depot wants to help you to stock up on those provisions.)
My advice: Go a step further. Even if you have the right supplies and IT recovery plan in place, your business continuity strategy also needs a succession plan. Indeed, 70 percent of small businesses lack a succession plan. But a growing trend involves connecting the dots between business continuity and succession planning.