SMEs fail to plan

Subsequent to the London bombings, security concerns have been raised regarding SMEs failing to plan for unexpected natural disasters, Computer Weekly reports.

Although many FTSE companies have plans in place and test them regularly SMEs are increasingly seen as the weakest link in the supply chains.

Furthermore it is said that pressure from larger companies, regulators, insurers and the development of a new business continuity standard will make it more difficult for smaller firms to ignore business continuity in the future.

There`s a rise in the number of small firms in the UK. Statistics show the number of SMEs in the country grew by 260 000 last year, The Liverpool Daily Post reports.

Research indicates that in some cases, it is the smaller sub-regions in the country that benefit most from SMEs, such as Merseyside, that showed a 2003/2004 increase in SMEs of 12.6%.

More than 50% of firms in that region have fewer than five employees while 82% have fewer than 20 employees.

SMEs account for 99.9% of Merseyside`s business population, contributing more than lb1.2 trillion in turnover.

Nigeria and its neighbouring island country of Sao Tome are discussing partnering in the development of SMEs.

The partnership is hoped to renew efforts by both countries to entrench private sector driven economies, This Day Online reports.

The Prime Minister of Sao Tome said there were several areas in which both countries could cooperate for mutual benefit.

The director-general of the SME development agency of Nigeria said the desire by Sao Tome to share in the experiences of Nigeria in the area of SMEs was encouraging, adding that her agency was prepared at all times to network with neighbouring countries on the subject, since by so doing, each country had something beneficial to learn from each other.