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Do You Need a Business Continuity Plan for New York Cannabis Licenses?

What is a Business Continuity Plan?

The Business Continuity Plan (BCP) provides guidelines and procedures in response to events that would significantly impact the ownership, operation, or cause the cannabis business to pause or completely stop operating. The BCP requires the establishment of various communication channels to ensure processes and procedures continue in the event of any of the previously mentioned scenarios. In short, a BCP is a well-thought-out plan to mitigate and mediate challenges to the operation in response to unexpected scenarios that will have a significant impact on the business.

Have questions about New York BCPs or need New York cannabis application support? Fill out a form here.

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Why do You Need it?

The New York Office of Cannabis Management (OCM) requires that operational plans come equipped with a BCP featured in license applications. Even though creating a BCP lengthens the application process, it is important to have one in place. BCPs ensure the business is safeguarded from the results of unforeseen catastrophic events and provide a process for the replacement of important personnel. The OCM does not distribute any type of standard cannabis business continuity plan template.

How to Create a Business Continuity Plan and What's Included:

Working with CannDelta is the best way to guarantee that you will submit a successful New York cannabis business license featuring a compliant New York business continuity plan (BCP). 

Although the OCM’s guidelines for what BCPs need to include are obscure, the following information should always be considered and included:

  • Communication plan
  • Responsibilities
  • Risk classification
  • Action plans for:
    • Changes to the applicant’s, owners, and parties of interest.
    • Changes to the applicant’s ability to operate the business.

       

With that in mind, creating a BCP can be a time-consuming process that is easy to overlook. The most effective way to guarantee a compliant BCP is working with New York cannabis consultants who can create unique business continuity plan templates and plans.

As New York’s leading cannabis consulting firm, CannDelta is happy to create a compliant BCP for your New York cannabis business license application, standing as your #1 source for all New York Cannabis application support.

 

Cannabis operating plans are guides that licenses facilities and dispensaries must follow while they are operating. Operational plans are required by the OCM during the application process. Business continuity plans are often considered an aspect of the operational plan.

The OCM doesn’t have any standardized guidelines for their BCP requirements which can make the process more complicated. The best way to ensure your business continuity plan will be compliant is by working with New York cannabis consultants at CannDelta.