Despite recent power shortages in London and a spate of computer viruses, many firms still fail to protect themselves against data loss, insurers have warned.
According to the British Chambers of Commerce (BCC), 90% of businesses that lose sales and operational information go bust within two years, yet fewer than half of UK firms have planned for such an event.
Mike Butler, risk control strategy manager at insurance firm AXA, said it was "staggering" that so many small firms are reluctant to take relatively simple steps to protect themselves from disaster.
The company has just produced a continuity guide directed at SMEs, called Business 4 Tomorrow, which outlines key risk areas and basic measures to secure information. Billed by AXA as a "crisis response template", the guide suggests that businesses rehearse recovery plans, back up computer data off-site and consider how customers and suppliers could be contacted if the worst happens.
