Businesses have improved their disaster planning over the past year, but many are still putting themselves at risk unnecessarily, research by BSI British Standards has revealed.
The survey of 100 FTSE 250 organisations, released on the anniversary of the Buncefield oil depot disaster, found that only 20% of companies believe they could survive more than a week without serious disruption to their business following a disaster.
Some 14% of companies would be seriously impacted within an hour, 23% would be affected within a day, and 16% within three days following a serious emergency.
The survey also raised questions about the readiness of the supply chain for a major business disruption. Only 45% of the firms questioned had comprehensive plans in place for a supply chain failure, and 21% of companies said they required all suppliers to have business continuity plans in place.
Although many businesses still have a long way to go, the survey found that there have been significant improvements over the past 12 months.
About 40% of firms said they were fully prepared to relocate their business in the event of an emergency, up from 15% a year ago.
Just over 50% said they were prepared for an IT systems failure, up from 27% a year ago. And 45% said they were ready to manage failures in the supply chain, compared with 18% in 2005.
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