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Research carried out by Aviva reveals that 50 percent of Small and Medium Enterprises are putting their company at risk as they don’t have Business Continuity Plans. By not taking the time to put a recovery plan in place, the businesses are risking complete failure in the event of a major incident.

The research also revealed that 16 percent of small businesses didn’t think that a BCP was necessary, with only 28 percent of the business owners who took part in the research, having a plan in place. The Federation of Small Business advise companies to have a BCP in place, as 80 percent of businesses close down inside 18 months following a major incident.

Outsourcing administration to a small business accountants will ensure that your financial planning is dealt with, as accounts and tax return submission will be carried out in a timely fashion. As your financial affairs are kept in order, it will be easier to have a BCP in place in case of unforeseen events.

One such event is the recent bad weather, with unexpected levels of snow affecting many businesses. Frozen water pipes may have forced businesses to close, or staff not being able to get into work forcing your company to run with lower resources. Although the current economic climate is affecting many businesses, preventing long term planning, it is advisable to stay up to date with book keeping so that you are in control in the event of problems. A low cost accountants will keep you ahead of the game.

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