Small and medium-sized businesses are woefully unprepared for disasters.
- 90% of smaller companies (<100 employees) surveyed spend less than one day per month preparing and maintaining their continuity plans.
- One in five (22%) spend no time maintaining their plans.
- Comparatively, 20% of larger companies (>100 employees) spend over 10 days per month on their continuity plans.
Data backup brings a false sense of security.
- 94% of companies have a formal data backup plan.
- 75% of companies say they have arrangements in place for employees to come back to work within days of a business interruption.
- Yet many companies that acknowledge having a plan have not addressed basic infrastructure and people recovery needs.
- 28% have access to alternate office space
- 41% have access to mobile office space
- 54% could acquire replacement office equipment
- 57% have access to power generators
Responses indicate a difference between saying the “right thing” and taking action.
- Gaining C-level buy-in is a challenge. Regardless of business size, survey results show many companies have difficulties getting C-level executives to embrace the importance of continuity planning.
- Although 67% of respondents feel an effective business continuity plan is paramount to company success, only 53% think their company’s management team feels the same way.
The risk is real.
- In the past two years, 52% of businesses experienced an unforeseen interruption, and the vast majority (81%) of these interruptions caused the business to be closed for one or more days.
- 38% of businesses report their respective industries are more regulated than in the past.
- 66% of companies say an interruption would have the same or more impact on their business than two years ago.