SMALL BUSINESS

Small and Medium Sized Enterprises

The Small and Medium Sized Enterprise (SME) market holds significant importance in the Canadian economy. These businesses represent the lion's share of Canada's corporate revenues and generate over 50% of the total Canadian employment payroll. They represent an important engine of growth within the Canadian economy.

The majority of SMEs are physically present in a single location, whether it be home based or out of rented / owned premises. This makes them much more vulnerable to losses as the result of a business disruption or a major disaster or catastrophic incident. In most cases, they cannot easily mitigate their risk to such events as they often do not have excess capacity and/or backup resources located at alternate facilities or branch offices.

We live in uncertain times!

In addition to the day to day pressures of operating a small business, owners are faced with increasing risk of business disruption, for example computer and/or telecommunications failures, absence of key staff, power failures and supply chain interruptions to name a few. The range of natural hazards and human induced threats is expanding. Statistics published by the UN and major insurance companies show that natural disasters are increasing in both number and severity. In the last few years alone we have experienced the effects of severe winter storms, devastating floods, wildfires, drought, volcanic eruptions, earthquakes and pandemics. And the economic downturn that started in 2008 is still having a crushing impact on many small businesses around the world.

Small businesses are much more vulnerable to disruption than larger organizations as they have fewer resources and financial backing. A preparedness plan, such as B-ReadyNow, enables a small business to not only reduce the risks of disruption but provides options to effectively respond to and recover from an event that might otherwise cause major disruptions for weeks if not months.

B-ReadyNow addresses the issues faced by small businesses in developing contingency plans for business disruptions - time, money and resources. The program has been developed in the language of small business owners. It is easy to use, uncomplicated and cost affordable - with explanations of the importance of a business disruption plan and coaching throughout the process.