British Small Businesses Unprepared for Risk

A new survey by YouGov has found that small- to medium-sized businesses in the UK often disappoint customers because they lack business continuity planning.

In an article on the vnunet.com website, Rosalie Marshall says the online survey of more than 1,000 small business owners and managers revealed that only one third of SMEs are taking steps to ensure their business will continue to operate normally in the event of disruption.

Stephen Rankin, regional director for UK employers’ organization the Confederation of British Industry, told Marshall “companies cannot afford to be out of action for any extended period of time because they risk losing customers in the short term and damaging their relationship in the longer term. This survey highlights the fact that some businesses have a long way to go in getting their plans up to scratch.”

In other findings, 40 percent of respondents said a computer hardware failure would be detrimental to their business, and only 10 per cent said they would be able to function as normal after a failure.

“Also, less than ten percent of the SME managers had heard of BS 25999, the first British Standard for Business Continuity Management, which was launched at the end of last year and sets best practices for business continuity plans,” Marshall adds.

However, it looks like the message might be sinking in a bit after all. The survey also found that after the managers were informed of the BS 25999 standard, 30 percent said they would apply for certification.

To read the full article, click here: http://www.vnunet.com/vnunet/news/2224771/smes-unprepared-business-risk