Business risks

Businesses can save up to 90% on the cost of flooding (including lost stock and moveable items) by preparing for flooding in advance. Many smaller businesses fail to reopen after flooding.

Flooding could cause:

• damage to property, including buildings and machinery
• damage to IT systems and technology
• financial losses, as a result of reduced turnover, lost sales and repair costs
• operational shutdowns, because of forced closure, leading to lost contracts and customers
• loss of stock
• reputational damage, when failure to provide services leads to loss of customer trust

What you should do now to prepare your business and protect against flooding:

• Know your flood risk – sign up for flood alerts and warnings
• Carry out a comprehensive flood risk assessment
• Create a Business Continuity Plan and a flood plan (and keep a printed copy in an accessible place)
• Make changes – e.g. raise electrical sockets and wiring; put equipment and machinery on plinths; back up customer data on a regular basis
• Get suitable insurance

For more useful information:

National Flood Forum - a charity to help, support and represent people at risk of flooding

Disease outbreak impacts are likely to include:

• staff shortages / pressure on staff, as a result of illness
• enforced closure, due to insufficient staff / risk of infection
• disruption to supply chains
• financial cost, as a result of a fall in productivity

What you should do now to prepare and protect your business against a disease outbreak:

• Ensure all staff are up to date with vaccinations
• Make a Business Continuity Plan – consider how to contain the spread of infection and how you will communicate with staff and stakeholders to minimise impact
• Establish back-up processes and alternative ways of working for running services, equipment and technology
• Make sure staff are aware of emergency plans

For more useful information:

Disease outbreak guidance - UK Government guidance to support a response to an outbreak of communicable disease

Cyber attacks are on the increase and all businesses are potential targets.

Businesses need to make sure they’re prepared for the following impacts:

• Financial cost, e.g. from theft of information or disruption to trading
• Reputational damage, from loss of customers and sales
• Legal consequences, including fines and regulatory sanctions if data is compromised

What you should do now to prepare and protect your business against cyber attack:

• Carry out a cyber risk assessment to identify threats and use necessary cyber security measures
• Create strong passwords
• Secure your devices
• Defend your business against phishing
• Report incidents
• Train and educate staff about their role in managing cyber risks
• Consider insuring against cyber risks
• Include all this in a Business Continuity Plan

For more useful information:

The Cyber Resilience Centre for the East Midlands - supporting and protecting businesses against online crime

National Cyber Security Centre - resources to help organisations prepare for, and recover from, a cyber attack

Extreme weather events can have dramatic impacts for businesses of all sizes. This could include (but is not limited to) snow and ice, extreme cold, high winds and extreme heat.

Extreme weather impacts could include:

• damage to property, including buildings and machinery
• damage to IT systems and technology
• financial losses, as a result of reduced productivity, lost sales and repair costs
• staff shortage, e.g. due to travel disruption or weather-related illness
• communities / customers / supply chains cut off by inaccessible routes
• operational shutdowns, because of forced closure, leading to lost contracts and customers
• loss of stock from weather damage
• disruption to gas, electricity or water
• reputational damage, when failure to provide services leads to loss of customer trust

What you should do now to prepare and protect your business against severe weather:

• Stay informed – sign up for WeatherReady weather alerts and follow Met Office for updates
• Carry out a risk assessment of your property – do any repairs to rooves and buildings etc ahead of time
• Know what to do in a power cut – call 105
• Make a Business Continuity Plan and test it
• Explore alternative ways of working if staff can’t get to work

For more useful information:

Adverse weather and health plan - UK Government advice to protect people from the effects of adverse weather

Terror attacks can happen at any time and in any place without warning.

Targeted businesses may face the following impacts:

• Temporary or prolonged closure
• Loss of revenue
• Contract delays or cancellations
• Physical harm, or loss of life, for staff and / or customers
• Property damage
• Loss of utilities
• Ongoing trauma / wellbeing issues for staff

What you should do now to protect your business against a terrorist attack:

• Be alert and report anything suspicious immediately
• Follow the latest advice and guidance
• Carry out security risk management
• Make sure staff know how to respond
• Make arrangements for remote working, if possible

Disruption to gas, electricity, water or telecoms services can cause major disruption for businesses.

Loss of utilities impacts could include:

• immediate (and possibly prolonged) disruption to operations
• loss of sales
• health and safety issues, particularly relating to loss of heating and water
• communication difficulties including loss of IT / digital services
• disruption for suppliers
• damage to hardware and loss of data
• reputational damage

It’s vital to plan ahead to protect your business for a loss of utilities:

• Create a Business Continuity Plan that includes power cuts and disruption to water supplies
• Invest in back up power and keep essential supplies ready
• Protect electronic equipment
• Plan how you’ll communicate and maintain customer service

Businesses of all sizes can be adversely affected by major transport incidents, affecting their staff, supply chain or the local area.

The impact of this may be:

• physical harm and / or emotional stress for workforce, potentially leading to staff shortages
• loss of life affecting families and communities
• travel disruption and delays, impacting staff, customers and deliveries
• increased costs from lost trading hours, missed sales or cancelled meetings
• reputational damage from failure to deliver

To avoid these impacts, it’s a good idea to prepare now. Your business can:

• create a Business Continuity Plan and test it
• explore remote working options
• build good relationships with suppliers to work collaboratively on solutions ahead of time