Research

Disaster preparedness

A survey finds small businesses’ confident in risk protection, insurance company says more should be done.

Entrepreneurs and business owners are risk takers by nature. In that tradition, a survey by insurance company Travelers found many business owners are not adequately prepared for disasters, yet they have confidence their businesses are protected. Despite Red Cross data that indicated 40 percent of small businesses never reopen after a disaster, the survey found almost half of small businesses are operating without a continuity plan. Here are a few of the questions and answers on disaster preparedness.

Do you currently have a written business continuity plan or some other disaster recovery document for your business?
Yes......................................................................................... 56%
No...........................................................................................44%

How confident are you that your business is protected against insurable risks that can result in significant financial losses or even cause you to go out of business altogether?
Somewhat confident ...................................................................53%
Extremely confident ...................................................................41%
Not at all confident ......................................................................6%

Contractors seek improvements in irrigation systems
Results from the Irrigation Association’s Turf and Landscape Standards Survey reveals contractors think product and standards improvements could help the industry.

A majority of professionals feel that systems are not being designed properly, are not being installed properly and are not being maintained and operated properly. Of the survey respondents, 85 percent said the quality of irrigation products is improving.

When it comes to regulations, 73 percent said regulations impacting irrigation, which vary location by location, are creating challenges for their businesses.

And 92 percent said development of product and system standards would be positive for the industry overall.

Weather-based controllers, rainfall sensors and pressure-regulating devices were ranked the highest products as having a positive impact on the industry if standards were developed.

Family business survey finds apprehension and hopefulness
Optimism among family businesses is most evident in the fact that 70 percent plan to make growth and expansion their chief business strategy in the next 12 months. But uneasiness about the future still lingers. Slightly more than half of U.S. family businesses intend to hand over their business to the next generation, which is considerably less than the 72 percent who said they would in 2007. Those are just some of the results from the PricewaterhouseCoopers Family Business Survey 2010/11.
“In seeking a competitive advantage, family businesses will need to place their next big bet on what will bring sustained growth,” the survey says.
Here is some of latest news as well as predictions from family businesses: