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Business continuity planning advice issued to SMEs

13 April 2010

Small and medium-sized enterprises (SMEs) in the UK have been advised to substantially improve their business continuity planning as the economy recovers from the recession.

According to accounting and qualification body AAT, such companies should "keep their fingers on the pulse or risk going under", as gross domestic product starts to expand again in the wake of the global financial crisis.

The body suggests minimizing as many potential risks to businesses as possible can help them to survive disasters and Tom Kelman, AAT Director of Finance, explained smaller firms "often lack the resources to cope easily in a crisis", making preparation more essential than ever.

"Withstanding a recession is a great achievement, yet SMEs cannot be complacent and must focus on preventing future crises," he explained.

However, figures from the British Insurance Brokers' Association found 45 per cent of small enterprises have not put business continuity plans.

Cabinet Office Civil Contingencies Secretariat, Stuart Sterling, recently called on bosses to place disaster preparedness at the top of their agendas as failure to do so can affect revenues.

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