business continuity plans

Business Continuity Management

SMEs Lack Business Continuity Plans

Almost half of small firms have no business continuity plan or only have a very rough plan in place, the British Insurance Brokers’ Association (BIBA) has revealed. Research by BIBA found that 45% of small businesses don’t have a continuity plan or only a rough version. It also highlighted that 80% of businesses that suffer a major incident close down within 18 months. BIBA has called on the Government to ensure that all businesses have continuity plans in place in case of major incidents, such as flooding, severe weather conditions, a terrorist attack or a pandemic such as swine flu. “We are not calling for more regulation, we just want the Government to encourage local councils to provide advice to businesses in their area on continuity planning — some are more ac... »