According to a survey commissioned by Close Invoice Finance, over 50 percent of the companies in the Yorkshire and Humber region are concerned about the impact on business from severe winter weather. Following the arctic conditions of last winter, estimates from the British Chamber of Commerce indicate that the freezing conditions of last year cost the economy £1.2 billion each day. In spite of the losses, the Close Business Barometer revealed that over 25 percent of businesses do not have a stable plan in place, in case of bad weather.
Effects of the freezing winter weather include staff not being able to get to work, power cuts, transportation delays and staff holidays. Ian Steward of Close Invoice Finance pointed out that people usually think of a huge scale disaster when they consider a business continuity plan, but he states that it’s the routine occurrences that can cause problems, such as bad weather. He said:
“If businesses aren’t prepared for the worst, it can have a serious effect on cash flow which everyone knows is the lifeblood of all business. Prevention really is better than cure and I would urge SME owners who aren’t already prepared to act now, checking that premises are winter-proof, insurance is up to date and flexible working plans are in place in case staff can’t make it to work.”
In comparison to the 58 percent of business owners across the various sectors who are worried, 80 percent of businesses dealing in logistics and transport are concerned about the negative effects another poor winter could have on them. The advice from experts is to make a continuity plan, for the mundane events in life like weather.
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