Example of a Business Contingency Plan. <
> Page 1 Contingency Plan Effective Date: Version History Version # Author Date 1.0 NOTE: This Contingency Plan template is designed to supplement a larger Business Continuity small or large—are more likely to stay in business. Small Firm Business Continuity Plan Template. Some key differences between these plans are: Business Continuity and Recovery Plan This plan is for use once life and safety are secure in response to a disaster. Typically, businesses establish a continuity plan for natural disasters, such as floods, arson, and terrorism. A good contingency plan may help to preventing potential events or unexpected events, even provides a guidance to ensure that each tasks and its outcomes will be protecting the business values. The Business Continuity and Recovery Plan is intended to be used in addition to your Emergency Preparedness and Response Plan. Starting and running a small business is an inherently risky practice because there is no guarantee that a new venture will attain profitability. Hence, contingency plan is very important for the business. Contingency planning is the process of planning for risks that disrupt your primary plans. The following are illustrative examples. Contingency Plans Many business plans will also include appendixes with additional information related to the business, its operations, its owners/managers, marketing/promotional plans, etc. Take the guesswork out of creating a contingency plan from scratch, and leverage the advantages of this small-business-specific template. A contingency plan is a set of instructions, that are prepared before anything completely out of the ordinary happens to your business, which could disrupt the day to day operations. You will want to review all of this sample Financial contingency planning is a must—not just for established small businesses, but also for businesses in the earliest stages of formation. With new people arriving and former employees leaving, it can be the case the plans get out of date very quickly. Small businesses often see a lot of change through the course of a year, so it is essential that you should update your contingency plan on a regular basis – at least once annually. Designed specifically for small businesses, this template uses a pre-built, all-inclusive contingency plan to provide guidance for modestly sized organizations. Sample text has been provided for the majority of the sections to serve as a starting point. The FINRA is providing a template as an optional guide to small introducing firms to assist them in fulfilling their need to create and maintain business continuity plans (BCPs) and emergency contact person lists under FINRA Rule 4370. A Business Continuity Plan (BCP) is a strategic plan that outlines businesses' prevention and recovery from major disruptions to the business. A business contingency plan is a “plan B” or blueprint for how to keep your business running in the event of a natural disaster, major technical issue, or other unforeseen disruption. This document is a template to help you begin the continuity planning process for your company. Of course, the best way to illustrate a business plan is to provide one. How do I use this sample plan? 9 Examples of Contingency Planning posted by John Spacey, February 26, 2016 updated on August 27, 2017. ... An overview of business as usual. However, the COVID-19 (Coronavirus) outbreak presents businesses with many unforeseen challenges due to its rapid spread and global reach.