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Small businesses urged to review their contingency plans

Nearly a quarter of small business owners have failed to review their business continuity plans since last year, despite the recent adverse weather conditions, a new report has revealed.

Furthermore, nearly a quarter of those interviewed admitted that they have no business continuity plan in place.

Around half of the firms questioned reported that they would not be prepared in the event of interruptions to their business during the festive period, even though a third are relying on Christmas to boost their sales.

The challenging economic climate has led many small businesses to reduce expenses, with some now relying on only one or two suppliers. Add to that the recent spells of flooding, and predictions of cold winter weather, and it is more important than ever to take steps to ensure that the essential elements of your business are covered in the event of an unexpected incident, from your suppliers and premises, to machinery and key personnel.

It is also advisable to keep your business continuity plan under regular review, to ensure that it reflects any changes in the business’s circumstances