Two-fifths of Gulf businesses do not have a disaster recovery (DR) plan in place for their IT section and 49 per cent have no business continuity plan for their workplace requirements.

The catastrophic spate of disasters that occurred in 2011, including the unrest in the Middle East has driven the issue of DR to the top of boardroom agendas highlighting the huge cost to businesses that natural disasters and their aftermath can cause.

Although these are extreme examples, the consequences of common events such as fires and vandalism can also seriously damage a business.

In order to take the pulse of global business preparedness, the latest survey by Regus, the world's largest provider of flexible workplaces, canvassed the opinions of more than 12,000 business people in 85 countries, and found that a significant proportion of firms are taking a huge risk with their shareholders' assets and failing to take proper precautions.

'The research reveals that, in spite of reports indicating that the average incident can cost up to $500,000, disaster recovery among Gulf businesses is not as widespread as imagined, particularly when it comes to workplace,' a Regus spokesperson said.

'Almost half of businesses in the Gulf reveal a high perceived cost of DR, but many also report that they would be willing to pay a monthly fee to access a workplace disaster recovery facility in case of emergency.

'This is an important indication that although too many businesses are taking a gamble, their mentality is changing, ' the spokesperson said.

'As affordable products and services become available around the globe, it is likely that more businesses will finally stop hoping for the best and seriously start planning for the worst,' the spokesperson added.-TradeArabia News Service