According to a survey conducted by The Hartford, most midsizefirms have business continuity plans, but few have actually testedthem.
|The Hartford surveyed more than 500 midsize business owners andC-level executives in the U.S. with annual revenues of $10 millionto $1 billion in its report, and says that 59% of respondents havea formal, documented continuity plan; 33% have an informal, verbalplan; and 8% don't have a plan at all. Of those with plans, only19% of businesses had tested their plans.
|The survey found that 36% of midsize businesses had been unableto meet a client need due to an interruption in operations. Ofthose businesses, 9% lost clients that did not return.
|According to The Hartford, 84% of businesses surveyed rely onsuppliers, vendors or consultants. Four in 10 had suffered asupplier interruption, and 32% had lost revenue due to a supplierproblem.
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