Survey Finds UK Businesses Being Unprepared for Olympics Could Cost 11billion

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22nd June 2012 12:11 - Business Support

Following from a recent campaign by MWB Business Exchange which aimed to encourage commuters to avoid congested areas and work flexibly during the upcoming Olympics,  a survey of 430 UK companies has found that unchanged attitudes pose a serious danger to the economy.

Business leaders claimed yesterday that travel chaos during the Games will deliver a financial blow to London because of a loss of productivity. A report also blames the Government for failing to properly prepare companies for the disruption.

The survey found that only 11% of businesses are letting staff work from home and 30% have not made any contingency plans whatsoever, even though 89% believe the Games will affect them.

In addition, less than 30% of firms are allowing employees to work flexible hours during the Olympics – this means that staff  face much longer commutes so productivity is set to plummet, with MWB Business Exchange estimating this will cause the UK economy to lose as much as £11billion.

Kathryn Hurt, MWB’s Head of Olympics, commented: “The Government has failed UK PLC in dealing with the huge impact the Olympics could have on businesses. The focus has been on showcasing London to the world in a hope it will boost the economy but there has been no strategy focusing on the potential threats to firms and the City.

She added: “When Transport for London shut down for the snow day in February 2012, £1billion was lost to the UK economy. Multiply snow day by the 17 days of the Olympics and you’ll get an idea of the impact Olympic disruption could have on the economy.”

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