Do you know how much poor weather costs your business? Or which types of weather have the most impact? A new report we launched today with our client 8×8 Solutions could help you figure it out.
The report, Coping with Chaos, analyses a decade’s worth of Met Office and ONS data to reveal that cold snaps are the weather phenomenon most likely to damage UK business performance – more so than snowfall, heat waves or flooding. In fact, when minimum temperatures are just one degree Celsius lower than average, quarterly GDP drops by £2.5 billion.
City A.M. was first to publish the story, followed by coverage in key trade media, including Growth Business, Fresh Business Thinking and Data Centre News. The report has also been supported by respected industry bodies such as the Business Continuity Institute, in the run up to its Business Continuity Awareness Week.
8×8 Solutions is running the campaign to highlight the need for businesses to put in place plans and technology to protect themselves from the negative effects of poor weather – particularly SMEs, which tend to be more vulnerable.
Scott Corfe, Head of UK Macroeconomics at the Cebr, who we worked with on the report, explains: “Many smaller offices are unprepared for such events as they often lack remote access to their work due to security concerns and a lack of infrastructure. SMEs tend to suffer more than their larger counterparts who can spread the setup and maintenance costs of remote working infrastructure across many more staff.”
Kevin Scott-Cowell, CEO of 8×8 Solutions, agrees, “Bad weather hits businesses hard, and medium-sized companies are more vulnerable than their larger counterparts. Until now, the technical infrastructure to enable remote working and guard against disruption has been out of reach for many companies, but cloud solutions are changing this. It’s now affordable for any size business to put in place a plan and deploy the right remote working technology. This can make sure it’s business as usual for customers, whatever the weather.”