Strengthening Resilience: Developing a Cyber-Focused Business Continuity Plan for Small Businesses

As a leader at an ISO27001 certified Managed Service Provider (MSP) , I understand the critical importance of affordable business continuity for small businesses . In an increasingly digital and interconnected world, the threat of disruptions, including cyberattacks, looms large.

In the event of a cyberattack, does your small business have a plan to minimise operational disruptions ? While a cyberattack is undoubtedly an emergency, it doesn't have to cripple every element of your operations. With a robust Business Continuity Plan (BCP) in place, you can respond, remediate, and recover more efficiently from such incidents. The ability to reduce downtime and outages is critical to containing costs and safeguarding your reputation.

In this article, I’ll explore the key considerations and steps involved in creating a comprehensive BCP, tailored to address the unique needs of small businesses across diverse sectors, including manufacturing companies, accounting and finance firms, retail and e-commerce, digital agencies, medical and wellness practices, and schools and educational institutions.

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Components of a cybersecurity-focused business continuity plan

Here’s a step-by-step guide to developing this area of your small business’s data protection and resilience.

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1.?????Business impact analysis

Begin by assessing the potential impact a cyberattack would have on your operations, finances, and data. Consider the various applications both within and outside your network that may be affected. This analysis forms the foundation for prioritising your response efforts.

2.?????Identification of critical business functions and processes

Identify the core elements of your business and determine how to safeguard them first. Good examples include:

• Systems sensitive to downtime: Identify the functions and processes that are most sensitive to downtime, such as critical production lines in manufacturing, financial transactions in accounting firms, online sales platforms in retail and e-commerce, or patient care systems in medical and wellness practices. Prioritise their continuity to avoid significant revenue loss and customer dissatisfaction.
• Systems that fulfil legal or financial obligations: Consider legal or financial obligations that must be met to maintain cash flow and regulatory compliance. For example, accounting firms must ensure timely financial reporting and tax filings, while manufacturing companies may have contractual obligations with suppliers and customers. Failure to fulfil these obligations can have severe financial and legal consequences.
• Systems that preserve market share and reputation: Certain functions may play a pivotal role in maintaining your business's market share and reputation. For digital agencies, uninterrupted client communications and project delivery are critical to retaining clients and securing new business. Retail and e-commerce businesses heavily rely on website availability, order fulfilment, and customer support to uphold their reputation and compete in the market.
• Irreplaceable assets: Identify functions or processes that protect irreplaceable assets, whether it's proprietary manufacturing processes, sensitive client data, or valuable intellectual property. In sectors such as education, safeguarding student records and research data is paramount. Failure to protect these assets can lead to significant financial loss, reputational damage, and legal liabilities.

Collaborate as a team to brainstorm potential scenarios and their impact on IT and other areas of the organisation. This exercise ensures a comprehensive understanding of the interconnectedness and dependencies within your business.

3.?????Dependencies between areas of business and functions

Recognise that a cyberattack may impact specific areas of your business while sparing others.

Here are a few different examples of dependent business areas and functions for different sectors to prioritise:

• Manufacturing company: The production department relies on the procurement team to ensure a steady supply of raw materials. The quality control department depends on the production department to provide samples for testing. The shipping and logistics department relies on the production schedule to plan outgoing shipments.
• Accounting and finance firm: The accounts receivable team depends on accurate and timely data from the sales department to generate invoices and track payments. The financial reporting team relies on data from various departments to prepare accurate financial statements. The payroll department depends on employee records from the HR department to calculate salaries and benefits.
• Retail or e-commerce business: The inventory management team relies on sales data to determine reorder points and restock popular items. The customer support team depends on accurate order information from the order fulfilment team to address customer inquiries. The marketing team relies on customer data from the CRM system to personalise promotions and improve customer engagement.
• Digital agency: The creative team relies on client briefs and project requirements from the account management team to create targeted marketing campaigns. The project management team depends on timely feedback from clients to meet project deadlines. The IT department supports all teams by maintaining the digital infrastructure and ensuring uninterrupted access to project files and collaboration tools.
• Medical or wellness practice: The appointment scheduling department relies on accurate patient records from the reception or front desk team. The medical staff depends on up-to-date inventory information from the pharmacy department to ensure the availability of necessary medications. The billing department relies on accurate medical coding from the medical staff to generate accurate invoices and insurance claims.
• Educational institution: The admissions department relies on student data from the registration department to process enrolments. The teaching faculty depends on reliable IT infrastructure and support to deliver online or technology-based education. The administrative staff relies on accurate student records from various departments to manage academic progress and communication.

The magnitude of the impact will depend on the size of your organisation and the collaboration between departments. Thoroughly test all backup systems to ensure a holistic recovery approach.

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4.?????Determine an acceptable downtime for critical business functions:

This means asking yourself how long your business can afford to take it’s critical business functions offline. This is important because while risks can be minimised, there is no way to 100% guarantee an issue will not occur, whether it’s a cyberattack, employee error, or even a natural disaster. Evaluate the potential downtime caused by a cyber incident and its consequences on system recovery, third-party relations, and other relevant stakeholders. Establish acceptable downtime thresholds and prioritise efforts to minimise disruption and expedite recovery.

5.?????Develop a plan to maintain operations:

Develop a comprehensive plan that outlines how your business can resume normal operations efficiently and securely within the above timeframe. This is very important because restoring all networks, operating systems, and applications after a cyberattack is a complex undertaking. Regularly test your recovery processes to validate their effectiveness and make necessary adjustments.

For small businesses, a cyber-focused business continuity plan is essential for minimising the impact of cyberattacks and ensuring a swift recovery. By conducting a business impact analysis, identifying critical functions, addressing dependencies, establishing downtime thresholds, and formulating comprehensive recovery strategies, small businesses can enhance their resilience against cyber threats. Protecting your operations, finances, and reputation requires proactive measures and a well-crafted plan. Invest in a cyber-focused BCP and fortify your small business against the evolving cyber landscape.

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Let our MSP deliver an affordable, world-class continuity solution

At Otto IT, we’re all about finding the best real-world applications for technology to fit your business, including providing state-of-the-art cybersecurity. From small start-ups and family businesses to large organisations, we work with you to protect what you’ve built. And we do it as affordably as possible, without cutting corners.

If you’d like to find out more about cybersecurity protection and staff training, please book in for a chat to talk about your business.

We also have some helpful articles on our blog about cybersecurity and business continuity, how it works, and actionable advice on how to combat the threats facing SMBs in 2023.