with Mindi Giftos and Andrew Schlidt
According to the Institute for Business and Home Safety, an estimated 25% of businesses do not reopen following a major disaster. Gartner Inc., a leading information technology research and advisory company, further estimates that 43% of companies were immediately put out of business by a major loss of computer records, with another 51% ceasing operations within two years — for a staggering 6% survival rate after two years. How is a business owner to manage this “bet-the-company” risk? Through business continuity (BC) planning.