UK small firms 'unprepared for business interruption', FSB warns

The Federation of Small Businesses (FSB) has warned that the majority of UK small firms are 'unprepared' for disruption risks that internal and external threats pose.

13 Jun 2018

The Federation of Small Businesses (FSB) has warned that the majority of UK small firms are ‘unprepared’ for disruption risks that internal and external threats pose.

Data published by the FSB revealed that 65% of small businesses do not currently have any plans in place to handle disruption risks to their firm or to their supply chains.

Some of the most common risks to firms include customers who fail to pay for goods or services; the loss of key members of staff; cybercrime and its associated threats; and severe weather and transport issues.

The FSB has urged larger businesses to assist smaller firms with forward planning. It has also called on local governments and authorities to emphasise the need for small businesses to put continuity plans into place.  

Commenting on the issue, Mike Cherry, National Chairman of the FSB, said: ‘Small businesses face a number of threats on a regular basis, and it is vital they are prepared to deal with them.

‘By implementing continuity plans, small firms can prepare for many of the sudden changes that can impact on them directly and their supply chains.

‘Given the likelihood that an enterprise will encounter some sort of business interruption issue more than once in their life, it is key to resilience that firms are encouraged to consider all risks that they could face.’

Quick Links

Home | Contact us | Accessibility | Disclaimer | Help | Site map |

© 2018 Blue Spire Limited. All rights reserved.

We use cookies on this website, you can find more information about cookies here.

Contact Chichester Office

Tel: +44 (0)1243 781234
Fax: +44 (0)1243 791770
Email: chichester@bluespiregroup.com


Contact Brighton Office

Tel: +44 (0)1273 739533
Fax: +44 (0)1273 732844
Email: brighton@bluespiregroup.com

Chichester Address
Cawley Priory, South Pallant, Chichester, West Sussex PO19 1SY

Brighton Address
5th Floor Intergen House, 65-67 Western Road, Hove, East Sussex BN3 2JQ

Blue Spire Limited is Registered to carry out audit work in the UK and Ireland and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales C004152645. Professional indemnity insurance is provided by Royal & Sun Alliance Insurance Plc 9th Floor, One Plantation Place, 30 Fenchurch Street, London, EC3M 3BD and its territorial coverage is worldwide (excluding United States/Canada).
Blue Spire Financial Planning Limited is authorised and regulated by the Financial Conduct Authority. FSA register https://www.fca.org.uk/register reference 566257. This guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at customers based in the UK