An exit strategy doesn’t necessarily mean you are looking to leave or sell your business. It can be this, but it can also act as a contingency plan. Having an exit strategy can keep your business moving, providing an income and keeping it viable in the unforeseeable event of the business owner not being able to manage it for a period of time, or even permanently. With this in mind, the largest generation category of SME […]
Business gurus always say that every business requires a contingency plan that anticipates all life’s little uncertainties. All too often, the listener nods sagely, partly out of boredom, partly because he does not really know what the term ‘contingency plan’ means – ‘just another piece of Management-Speak, if you ask me….’ And if such advice is being properly followed by […]
You have survived the last few months, but you are in a different position now and it is not business as usual. So where do you go from here? How do you begin to move your business forward and get back to where you wanted it to be when you started out? To refocus your efforts, here are 3 crucial questions to help you plan. Ask yourself – What is the […]
In the event of an owner’s illness or death A business contingency plan is a set procedure to follow in case of any major event and is a precaution, set up before death or illness, to state who would be responsible for managing your business. If you do not already have a plan in place, […]
Business continuity management or contingency planning is about the management of risks which could damage your business temporarily or could result in its failure. These risks can arrive suddenly such as through a storm or burglary, be part of a gradually worsening situation such as unexpected long term road works outside your business or a […]
