Do the Standalone Business Continuity Enhancement Plans Improve SMEs' Resilience? : Effects and Challenges from the Perspectives of Government, Corporations, and Support Organizations

Abstract

This paper focuses on the standalone business continuity enhancement plans for small and medium-sized enterprises(SMEs) institutionalized in 2019. The aim is to assess the effectiveness and challenges of these plans through interviews with stakeholders from government, support organization, and the companies that implemented the plans. The findings indicate that standalone business continuity enhancement plans are easier to develop compared to comprehensive business continuity plans (BCPs) and that SMEs are actively developing these plans as an initial step in disaster preparedness, encouraged by governmental incentives. However, the study also reveals a challenge that few companies advance from these standalone plans to more comprehensive BCPs or collaborative plans.