Lack of Business Continuity
17 October 2009
Over £11bn lost annually due to lack of business continuity
The UK economy is losing over £11bn every year due to major disruptions that effective business continuity management could prevent, according to The Business Continuity Institute (BCI).
The BCI researched key findings across 17 causes of major disruptions to calculate the cost impact to the UK economy. The figure shows that organisations are still not looking seriously at Business Continuity Management to provide a framework for managing the impact of potential disruptions to their businesses.
"In the current economic downturn, customers and suppliers will inevitably go out of business and it is vital that an organisation understands its dependency on critical suppliers. The lack of availability to essential products can have a serious impact on business," said Lyndon Bird, Technical Director of the BCI.