A new survey by Nationwide has found that three in four US small business owners do not have a disaster recovery plan, but more than half say it would take at least three months to recover from a disaster.
Nationwide commissioned Harris Interactive, which conducted an online poll among 500 US small business owners with fewer than 300 employees from June 8th –19th, 2015.
“Small businesses are least likely to have disaster recovery insurance,” says Mark Pizzi, president and chief operating officer of Nationwide Direct and Member Solutions. “And yet they are the ones most affected by a disaster. That’s why it’s essential for small businesses to have a disaster recovery plan.”
The survey also revealed that:
- While more than a third (38 percent) of small business owners say it is not important for their business to have a disaster recovery plan, over two-thirds (69 percent) have an evacuation plan at home.
- For many without a plan for their business, disaster recovery is simply a low priority (34 percent). Time (11 percent) or cost (15 percent) play smaller roles in the decision not to have a written disaster recovery plan in place.
- For companies with fewer than 50 employees, only one in five (18 percent) have a disaster recovery plan.
- Unfortunately, if a disaster were to occur, 44 percent of small business owners say they don’t have access to generators: and 66 percent don’t even have business interruption insurance.