Most Canadian manufacturers and exporters are not prepared for a pandemic, according to a Canadian Manufacturers & Exporters Association survey.
Approximately 87% of the 527 companies surveyed last week don't have a plan in place to deal with an emergency like a pandemic. Despite the Avian Flu threat in 2006, 90% of respondents are still not sure what steps should be taken to safeguard their operations and supply chain.
Jayson Myers, CME president, said, "The first step in mitigating the impacts of any crisis like a possible pandemic is borrowing a lesson from the boy scouts: be prepared."
He noted that up to 35% of the workforce could be affected by a pandemic flu, which would threaten the survival of businesses already hit hard by the recession. The survey found that 37% of respondents report that their business is feeling the impact of the spread of the H1N1 virus.
"Successful continuity planning goes well beyond ensuring your employees wash their hands properly," said Myers. "It's imperative to have a strategy from the boardroom to the shop floor that safeguards all operations of your business, including your supply chain."
According to a 2006 KPMG study, a pandemic's initial waves could reduce B.C.'s economic output by between 1.9% and 4.4%. The drop would be driven by a decline in consumer demand arising, in part, from the uncoordinated efforts of people trying to avoid infection. Tourism, public transport, retail, education, accommodation, food services and the entertainment industry would be the most affected.
Helmut Pastrick, chief economist for Central 1 Credit Union, had estimated last year that a pandemic could exact a $759.4 million toll on the economy. (See Emergency Preparedness feature BIV 968; May 13-19, 2008.)