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You need to have redundant systems for those things that are really critical for you to continue operations, at least in a limited capacity for a short period. I suggest a two step analysis to determine your needs for a continuity plan. First, identify which of your business processes are actually vital to your company's survival. Second, determine how long you want to be able to function at a minimum level to maintain continued operation of your key business process and require redundancy. This may not be an easy determination, because you have to balance risk and cost to come to the right decision for you. Lastly, ask yourself, what are the components necessary for this minimum level of continued operation.
I would suggest that the basic plan would require:
A secondary business location (which could be a branch office separate from your primary facility)
Computers, with the software (and backed up data, of course) critical to core functions.
Phones. You have to talk to customers, suppliers, employees, etc.
Paper copies of important files. We are not yet in a paper free world, and a few file cabinets of important documents like billing files and invoices can make life easier.