|
Canadian Business Must Plan for Economic Impact of The Next Pandemic |
|
|
|
Written by Wire Services
|
|
Tuesday, 21 March 2006 |
Canadian Manufacturers & Exporters (CME) today unveiled a planning guide for Canadian business that will help mitigate the estimated $60-billion economic impact from a pandemic outbreak.
"Canada's business community is at risk," said CME President and CEO Perrin Beatty. "It's not a matter of if, but a question of when the next pandemic will strike. Many Canadian companies are not prepared and this lack of readiness may threaten their economic viability and the delivery of critical goods that depend on complex supply chain systems."
The World Bank estimates that the cost to the global economy of a flu pandemic would be upwards of $800 billion (US). According to Congressional Budget Office in the US, the impact of a pandemic would cost up to 5 per cent of GDP.
Assuming Canada would be similarly affected and considering our reliance on trade, Canada's economy could suffer by as much as $60 billion due to a pandemic outbreak - even more if the Canada-US border were to experience serious difficulties.
"As a nation, we can't afford to be unprepared," added Beatty. "CME's guide equips all Canadian business with tools and information to minimize the risk that influenza pandemic poses to the health and safety of employees, the continuity of business operations and the bottom line."
The 87-page guide highlights key considerations when coping with a pandemic, including the critical elements of a continuity plan plus a summary checklist; a how-to guide to develop a continuity plan; medical precautions and human resource considerations.
"A business continuity plan should be an essential element of any business strategy or operating procedures, as we have learned from SARS, 9/11 and even the ice storm," said Beatty. "I cannot think of any reason not to be prepared, but 60 billion reasons why we should."
CME's Continuity Planning Guide for Canadian Business can be downloaded, free of charge at www.manufacturingourfuture.ca . |
