Businesses are more likely to be flooded than destroyed by fire.
In 2013-14, the wettest winter on record saw 3,200 commercial properties flooded and 7,700 homes flooded. While the costs to businesses are still being counted from these floods, we know they can be high; the economic cost of the 2012 floods is estimated to be just under £7,000 for each business flooded.
There are around 260,000 business units employing 3.2 million people located in areas at risk of flooding and flooding is set to become more common as the climate changes.
The benefits of being resilient are numerous – these include;
Improved goods and services.
Protecting existing customer base.
Increased process efficiency.
Costs cut and profit increased.
Lowered insurance premiums.
Trust from customers, suppliers, stakeholders, staff and management
Greater understanding of wider business operation
Ability to continue trading with minimum disruption in the event of an incident.
Did you know?
Half of all businesses with no effective recovery plans in place fail within 12 months of experiencing a “disaster”.
Two thirds of businesses say they have been negatively affected by severe weather in the last 3 years.
The financial costs of these severe weather events over this period, on average, just under £7k for each affected businesses.
Only 25% of micro businesses have a resilience plan in place that specifically includes severe weather.
The financial cost to businesses caused by the 2013 floods was £200 million.
Businesses directly impacted by the 2007 floods took an average of 26 weeks to return to normal operating capacity.
According to the Met Office, the winter of 2013-14 was the wettest on record.
Flooding and storm damage badly affected 3,200 commercial properties.
Even now, many of the affected businesses are still coming to terms with the combined disruption and damage caused by the storms and heavy continued rainfall of 2013/14. As our climate becomes more volatile, more needs to be done to prepare and protect small businesses.
Severe weather is the number one business disruption in UK.
River and coastal flooding, surface water, snow and cold temperatures, water shortage, wind damage and heatwaves all disrupt businesses and affect their supply chain and their customers.