According to the British Standards Institution, 87 percent of businesses believe that risk management protects revenue and enhances value for money;  93 percent agreed that it improves accountability, decision making, transparency and visibility.

The British Insurance Brokers Association (BIBA) has commissioned new research which
revealed that millions of SMEs across the UK are failing to protect themselves and their
employees in the event of emergencies such as fire, flood, or acts of terrorism.  As a result,
BIBA has launched a high profile campaign to encourage SMEs to get serious about
Business Continuity Planning, a move which is backed by politicians of all parties.

Pat McFadden, MP

Minister of State for the Department for Business, said on 2nd April 2008:

“Small businesses are vital. The millions of people who launch, lead and work for small businesses up and down the country create vital jobs, provide essential services and generate significant wealth for the country. This latest guidance provides vital risk management advice to help ensure our small businesses grow and flourish.”

“That this House welcomes the business continuity campaign being launched by the British Insurance Brokers Association, urging all small and medium sized enterprises across the United Kingdom to ensure that they have taken the necessary steps to protect their business and their employees in the event of an emergency such as fire, flood or act of terrorism.

“Small to medium-sized firms are particularly vulnerable to the unexpected event that could bring them down. We have produced this guide following last summer’s floods, when insurers dealt with over 27,000 claims from flooded firms and paid out £1billion to them. During that time it became clear that many firms had inadequate or no plans in place to help them survive a major incident. I urge all firms to plan for the unexpected-doing so will make the difference between survival and going under should the worst happen.”

In summary: professional practices and other businesses can avoid the long term fallout of an emergency situation by having a testable Business Continuity Plan