Entrepreneurs perceive the growing danger of disruptions in an increasingly uncertain world, both geopolitically and climatically. They seek stability in their efforts to counter external threats. This is evident from new research by the Chamber of Commerce among nearly 750 entrepreneurs.
More than two-thirds of entrepreneurs view internet or telecom outages as a risk to business continuity; power outages are mentioned almost as often. Nearly half of entrepreneurs indicate that an IT failure or the failure of software or cloud systems impacts the business, and two out of five mention a possible cyberattack.
Extreme weather conditions such as storms, snow, and heat are viewed as a risk by a quarter of entrepreneurs, as are waterlogging and floods and – of a potentially very different order – logistical disruptions.
Previous KVK research among over 2,000 entrepreneurs shows that nearly two-thirds of all entrepreneurs are not yet preparing for a disruption or outage, or do not expect to be able to do anything about it. Only one in ten entrepreneurs indicates being well prepared, while two in ten are somewhat prepared.
Searching for stability
The Chamber of Commerce (KVK) asked entrepreneurs on which topics they would like practical information or advice to make their businesses more resilient. One-third of entrepreneurs would like guidance in mapping out risks, and another third want that help in strengthening digital resilience. A quarter want to start looking at how they can be financially prepared, and one in five mentions an emergency plan and contingency provisions. A checklist, quick scan, or step-by-step plan are most frequently mentioned as helpful for this support.
KVK Business Advisor Christiaan Hazelaar: “It is good to see that entrepreneurs are aware of the risks and that they are seeking help and advice. The increasing threats on the global stage are a real cause for concern, not just in a vague distant future, but very concretely, right now.”
Vulnerabilities
Hazelaar does add a caveat regarding how specific one can be in advice: “Entrepreneurs can always call us. We have a team of advisors who speak to entrepreneurs daily, so that is covered. However, every business is different. Every entrepreneur has their own specific challenges, partly industry- or profession-related, and partly at the level of their own company. My advice is: determine for yourself where your greatest vulnerabilities lie and how you can best mitigate them in the event of a large-scale or prolonged disruption. There is a wealth of information available on our site regarding the resilience and future-proofing of your business. And if you want to brainstorm about that: that is what we are here for, so know where to find us!”
On May 11, the Ministry of Economic Affairs and Climate Policy launched a resilience campaign specifically aimed at entrepreneurs, titled ‘Will your business keep running during an emergency?’
Entrepreneurs can find information on this page at the Chamber of Commerce – https://www.kvk.nl/runnen-en-groeien/noodplan-zo-draait-je-bedrijf-weer-snel-na-een-noodsituatie/ (in Dutch)
Text: KVK
Translation to English: The Hague Online