What would your company do if your building exploded tomorrow? Is your data safe? Do you have a continuity plan in place?

Pray! I work in a small company and about half of our employees carry laptops. I'm assuming that most of their stuff would be saved, but I'm not sure about the others who use desktops. This would seem to be an important reason to have offsite backup or have our gear in a colo, correct? I guess if our servers were in a colo then the only files we would lose would be those that had been backed up to a local drive. But I guess some sort of offsite backup or replication would be best.