British firms not concerned about business continuity risks

Some British companies remain unconcerned about the risks data security and power loss pose to their business, a new report suggests.

Some 15 per cent of small and medium-sized firms polled by Barclays said they didn’t think of data breaches and cyber crime as being a “major risk” to their operations.

The majority - 83 per cent - were as equally unperturbed about the risks posed by losing heating or hot water.
Firms are encouraged to have robust business continuity plans in place to manage unexpected emergencies that can have a critical effect on the day-to-day running of a business.

Our free guide to business continuity tells you how to develop a proper continuity strategy, the business threats you might not have considered and some quick wins you can make now to reduce your risk.

The Barclays research found small businesses have lost two working days because of a loss of electricity or gas over the last five years.

James Bennett, managing director of Business Services at British Gas, said: “With winter fast approaching, now is the time for small businesses to make sure they have well maintained heating and hot water systems. Companies with annual servicing or maintenance plans in place are better positioned to focus their time on creating revenues and growth.”

Separate research from ATB Financial found nearly half (49 per cent) of small and medium-sized firms do not have a business continuity plan in place at all. The firm polled 300 companies and found just one in five have a formal business continuity strategy. ATB said the larger the business, the higher the likelihood of it having a continuity plan.

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