📅 2026 Update: Business Continuity Plan Developments

Since the original article was written, significant changes have taken place regarding Business Continuity Plans (BCPs). New regulations and standards have been introduced, affecting how businesses prepare for emergencies and disruptions. The earlier article continues further down the page, providing foundational insights into business continuity planning.

📜 FINRA Rule 4370 Update

In May 2026, the Financial Industry Regulatory Authority (FINRA) updated Rule 4370. This rule now requires all member firms to create and maintain a written Business Continuity Plan. The plan must address emergencies and significant business disruptions, ensuring firms are better prepared for unexpected events.

📊 ISO 22301 Adoption

In 2025, the International Organization for Standardization (ISO) released ISO 22301:2025. This revised standard focuses on a risk-based approach to Business Continuity Management Systems. Organizations are now expected to regularly test and validate their BCPs to ensure they are effective and up-to-date.

💰 Compliance Costs

As of 2026, FINRA member firms must allocate resources for developing and implementing their BCPs. This includes budgeting for personnel time, technology, and potential third-party consulting fees. The costs can vary based on the firm's specific needs and size.

📝 Implementation Steps

For compliance with FINRA Rule 4370, firms must develop a written BCP that covers data backup and mission-critical systems. They must also conduct an annual review by a designated senior manager and disclose the BCP to customers at account opening and on their websites.

📌 Key Points Summary

  • 📅 FINRA Rule 4370 requires a written BCP for member firms.
  • 📊 ISO 22301:2025 emphasizes testing and validation of BCPs.
  • 💰 Compliance costs vary based on firm size and complexity.
  • 📝 Implementation steps include annual reviews and customer disclosures.

💡 Tips for Developing Your Business Continuity Plan

Review the details of your unique situation with your attorney. Understanding the specific requirements for your business is essential.

🛠️ Conduct a Gap Analysis

Evaluate your current practices against ISO 22301:2025. This assessment will help identify areas needing improvement and ensure your BCP aligns with updated standards.

📅 Schedule Annual Reviews

Ensure that a designated senior manager conducts an annual review of your BCP. This regular check will help keep the plan relevant and effective as business needs change.

📄 Customer Disclosure

Provide a summary of your BCP to customers at account opening. Posting this information on your website can enhance transparency and trust.

🔄 Test Your Plan Regularly

Regularly test your BCP to confirm its effectiveness. This practice helps identify any weaknesses and ensures that your business can respond to disruptions effectively.

🔗 Utilize Available Resources

Consider using resources from the U.S. Small Business Administration (SBA) and FEMA. They offer guidance and tools to help develop and implement effective business continuity plans.

🏆 Business Continuity Services Ranked by User Reviews (2026)

The following services are designed to assist businesses in creating and maintaining their Business Continuity Plans. They offer various tools, from legal document creation to business formation services. The order of these services is based on Trustpilot data verified in October 2026, but keep in mind that scores may change over time.

Star ratings are just one signal, as unhappy customers often leave more reviews.

🥇 1. Rocket Lawyer

Rocket Lawyer has been rated 4.5. It is known for providing legal document creation and legal advice services. However, some users find the subscription model costly if they don't use the service frequently.

🥈 2. LegalShield

LegalShield holds a rating of 4.4. This service offers legal subscription services and access to legal advice. Some users report difficulties in reaching their assigned attorneys directly, which can be a drawback.

🥉 3. LegalZoom

LegalZoom averages 4.6. It is known for business formation services and legal document preparation. However, some reviewers mention delays in processing times that could affect urgent needs.

4️⃣ Bizee

Bizee has been rated 4.8. This service specializes in business formation and registered agent services. Users have noted some issues with customer support responsiveness, which may impact the overall experience.

🆓 Free Government Resources

The U.S. Small Business Administration (SBA) and FEMA provide free resources for developing business continuity plans. These organizations offer guidance, checklists, and tools to help businesses prepare for disruptions effectively.

🔎 Choosing the Right Service

  • 🔍 User reviews can provide insights into service quality.
  • 💰 Cost structure should fit your business budget.
  • 🔄 Range of services offered is important for comprehensive support.
  • 📈 Reputation in the industry can indicate reliability.
  • 📞 Customer support availability and responsiveness matter.

❓ Frequently Asked Questions

❓ What is a Business Continuity Plan?

A Business Continuity Plan (BCP) outlines how a business will continue operating during and after a disruption. It includes steps for maintaining essential functions and protecting critical assets.

📅 How often should I review my BCP?

You should conduct an annual review of your Business Continuity Plan. This ensures that the plan remains effective and addresses any changes in your business or operational environment.

📝 What are the key components of a BCP?

A BCP should include data backup procedures, communication plans, and strategies for maintaining mission-critical systems. These components help ensure business resilience during disruptions.

💼 Who needs a Business Continuity Plan?

All businesses, especially those in regulated industries, should have a Business Continuity Plan. This plan helps prepare for unexpected events and ensures compliance with relevant regulations.

🔄 How can I test my Business Continuity Plan?

Regular testing of your BCP can include simulations and drills. These exercises help identify weaknesses and allow you to adjust the plan for better effectiveness.

📈 What resources are available for creating a BCP?

The U.S. Small Business Administration (SBA) and FEMA offer various resources and guidance. They provide tools to help businesses develop and implement effective continuity plans.

⚖️ Recent Cases Related to Business Continuity

Several recent court rulings have highlighted the importance of Business Continuity Plans in ensuring compliance with regulations and protecting business interests. These decisions can influence how businesses structure their plans and address disruptions.

To explore more about recent rulings, check out more rulings on the news page.

End of October 2026 Update





When you are starting your own business it is important to have a business plan set up to help direct the success of your business.  What is also important, that many small businesses don’t consider, is a Business Continuity Plan.  A Business Continuity Plan s set up for all contingency circumstances revolving around the success of your business.  Many problems can occur through the course of running your own business, both natural and man made.  If you are operating your own business it will only be a matter of time before your Business Continuity Plan will have to go into effect.  It may happen tomorrow or it may happen 20 years from now.  Many people believe there is no such thing as luck, only preparedness.  When disaster hits you should have a Business Continuity Plan set up to prevent your business from going under.

Probably one of the most famous Business Continuity Plans resulted in the formation of the Bank of America.  In 1904 Amadeo Giannini founded the Bank of Italy in San Francisco, California.  The goal of the bank was to make small loans to immigrants who were denied by other banks.  The Bank of Italy did not possess a fire proof safe and when the San Francisco earthquake occurred in 1906 Giannini was forced to return to the bank and take out all of the money before the fires reached the Bank of Italy.  All of the other banking institutions in San Francisco had fire proof safes.  Where the fireproof safes prevented the fire from consuming the contents of the safes they were incapable of being opened for days because they needed to cool down.   After the earthquake Gianinni was the only person in the city of San Francisco who was capable of making loans to individuals for repairs.  Because of his ability to finance the rebuilding of the city, Gianinni’s business thrived and eventually became, what is known today, as the Bank of America.

Where Gianinni’s Business Continuity Plan was not done on purpose this is a great example of how to prepare for disasters and the result of poor planning.  The other banking institutions did not think about the result of an overheated safe, and for that reason, they were damaged financially.

Using a Business Continuity Plan

When creating a Business Continuity Plan you should contemplate your business exposure to internal and external threats.  The first step in creating a Business Continuity Plan should be to assess your business essential aspects and gauge what are the most important and fundamental operations of your business.  These should be listed in order of priority and assess what backup, and contingency, arrangements should be made for the failure of each one.  

There are many issues that can arise through the course of a business that can cause your business to suffer loss or become insolvent.  These include: Theft, natural disasters, looting, damage to inventory and equipment, fire, changes in the financial market and many others. 

You should prepare for each situation appropriately; prioritize certain aspects of your business over others; do cost analysis comparing the costs of the business continuity plan versus the value of the asset to the company.  For example, the theft of inventory from the store may have less of an impact on your business than the destruction of your business due to fire.

Business continuity plans can consist of backup generators, security systems, backup machinery and equipment and insurance.  Each business will have a different business continuity plan and you should consult with a specialist in these matters to assess how you should fully prepare for any worse case scenario.