Firms gear up for Olympic impact

10 August 2011

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10 August 2011 | Adam Leach

A growing number of businesses anticipate disruption as a result of the London Olympics next year.

As the start of the games draws closer, concern about the impact on business operations is intensifying, with the number expecting problems increasing by 37 per cent, according to Deloitte.

The State of Play: Ready or Not, published by Deloitte on Monday, found that just three per cent expected no disruption as a result of the world’s biggest sporting event coming to London. This is compared with the 40 per cent that said they expected no disruption when the first survey was conducted last December.

In particular, 18 per cent of respondents expect problems within their supply chain, compared with just eight per cent in the previous report.

Heather Hancock, lead partner for London 2012 at Deloitte, said: “In the autumn of 2010, an alarming picture emerged about UK businesses – two thirds of those we spoke to said they expected no impact on business as usual.”

Outlining the shift over the past eight months, she said: “They [businesses] are beginning to understand that to capitalise on any business boost from the games and minimise disruption to their company, they need to prepare and be ready.”

The report found 42 per cent have already formulated a plan to deal with the opportunities and challenges the games will bring, up from just 15 per cent in the autumn. A further 56 per cent are planning to carry out an assessment before the games, while five per cent feel there is no need to do so.

More than a third of companies will also review their risk management policies in preparation for London 2012. The report says: “We would also recommend engaging with suppliers to shore up supply chains and create alternative and contingency plans where required.”

Deloitte used a sample size of 50 to conduct its research.

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