Businesses warned to prepare for disaster
With the news that 43 per cent of businesses without a business continuity plan will never re-open following a disaster, companies would be well advised to weigh up the potential risks and establish whether they would be able to survive should the worst happen.
Of the companies that do manage to re-open, a massive 80 per cent fail within a year, according to stats from Disaster Recovery Solutions (DRS).
R3's Frances Coulson warned that businesses could be taking big risks by not preparing for the worst.
"Disaster comes in many forms and businesses have to balance cost against the risk they are seeking to protect the business from", she said.
"The usual insured risks; fire, theft, et cetera are obvious, but insurance payouts often come too late to actually preserve the business on an ongoing basis."
DRS research shows that 20 per cent of companies will suffer some kind of disaster at some point.
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