Terrorism & Flooding Force Business to Review Continuity Management
Business in the UK is now better prepared for disruption or disaster than it was two years ago, ago to a report today from BSI (British Standards’ Institute) yearly Business Barometer, published on Tuesday.
BSI research reveals that 42% of businesses have reviewed their business continuity management planning following the terror alerts in both London and Glasgow in June this year and more than a third of businesses are better prepared after the summer’s floods.
The research found that 81% of companies would continue to function normally for up to a week before feeling the serious effects of disruption or disaster and that 63% of businesses are well prepared for catastrophic IT failure compared to just 27% back in 2005.
Around 50% of business are prepared for forced office relocation (versus 15% in 2005) whilst nearly half (47%) are ready to deal with drastic supply chain failure compared to a meagre 18% two years ago.
The Director of BSI British Standards, Mike Low, said:
"The scale of risk and opportunity in the FTSE 250 are enormous and these organisations are quickly recognizing that what is termed Business Continuity Management now has to be at the heart of their operations. It’s also crucial for smaller organisations and those in other sectors to look seriously at how they would cope in the event of a disaster."
For further information on how to prepare your business for a crisis read our Business Continuity Management guide.