FSB welcomes new Flood Resilience Review

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FSB welcomes new Flood Resilience Review (image credit: iStock/vicnt)

The Federation of Small Businesses (FSB) has welcomed the publication of the government's latest National Flood Resilience Review, but claims more still needs to be done to safeguard the nation's smallest operators.

FSB national chairman Mike Cherry stated that it is a welcome announcement of the extra millions of pounds that are to be spend on flood-prevention programmes across the UK in the coming years, but there remains serious concerns surrounding levels of support for many small businesses in the event of flooding.

"Nearly a fifth of businesses directly affected by devastating floods last Christmas are still not fully operational," he explained. "That's a troubling indication of what could lie ahead as we again approach the winter months."

Mr Cherry went on to add that "it's vitally important infrastructure is built to withstand the pressures [of] a flooding event", but the efforts to safeguard businesses should not stop there.

Small businesses need to feel empowered to invest in their own flood-prevention measures, while they must be given access to an insurance market that recognises their level of risk and compensates them adequately in the event of damage to their property.

The FSB chief concluded that the government and the insurance sector must therefore now work closely to ensure high-risk businesses are able to increase their resilience, reduce their flood risk and, consequently, reduce their overall insurance costs.