Disaster recovery is an essential subset of a comprehensive Business Continuity Plan. The purpose of a Business Continuity Plan is to keep a business operational throughout a disaster, while Disaster recovery pertains to the restoration of data and IT infrastructure after a destructive event. But business continuity and disaster recovery are not the same thing. Many business owners shortsightedly believe that their Disaster Recovery Plan is enough to make it to the other side of a catastrophic event.
Cybersecurity experts report that 60% of small businesses go out of business within six months of a cyberattack or data breach. But what about cyber threats? Ransomware attacks are arguably an epidemic and are bringing otherwise healthy businesses to their knees, even after hackers are paid. Staggering numbers and only pertain to those environmental threats like cyclones, floods, fires, and earthquakes. Yes, that is the worst-case scenario, but with the current threat landscape being what it is, the grim outlook is not hyperbolic by any means.Īccording to FEMA, 40% of small and mid-sized businesses (SMBs) never reopen after a natural disaster, and another 25% fail within a year.
Or worse, the business simply collapses due to a lack of preparedness and planning. A Business Continuity Plan (BCP) is one of those things that are easy to overlook until disaster strikes and a company is left to spitball its way to recovery.
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