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Small firms 'failing to assess new risks'

01 October 2009

Small businesses in Britain are introducing new products, services and working practices in order to survive the recession but are failing to address the associated risks, it has been claimed.

According to research by insurer Aviva, 56 per cent of companies are opting to diversify their operations through measures such as new offerings, longer trading hours and additional discounts.

However, the study revealed that business continuity and risk planning are suffering as a result of the downturn, with 12 per cent not having arranged commercial cover.

The poll also found that many enterprises are reducing the levels of security and protection they have in place because finances are tighter.

"Protecting what you've already got and what you're trying to build for the future should be fundamental for any conscientious business owner," David Bruce, Aviva Commercial Product Manager, stated.

Meanwhile, a recent report by Double-Take Software suggested that companies are increasingly finding it difficult to cope when their IT systems are down for more than an hour at a time.

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