Businesses Oblivious to Olympic Impacts

Posted on 15 November, 2011 by MOVEHUT

According to recently conducted research, more than half of London’s Small and medium enterprises (SME) do not believe that the games will have any impacts, neither positive nor negative on their businesses during the London 2012 games.


The results from the survey show that 55 per cent of SMEs think that the games will have no impact on them at all, and only 14 per cent were worried about their staff and customers not being able to get to their commercial property during the Olympics, with regards to transport issues. Additionally only ten per cent of businesses were concerned about staff availability and hadn’t considered that their employees may actually want to watch the games.

Since the survey was conducted, the London Chamber of Commerce and Industry (LCCI) have been advising commercial property owners and managers how to best prepare and get the most out of the London 2012 Olympics.

According to experts, the UK will benefit from a £750 million spending boost during the 2012 games, which LCCI wants SMEs to be a part of. Dr Helen Hill, Policy Director at the LCCI, expressed: “The Games should be an open goal for London, providing us with the chance to cement our reputation as the best city in the world.”

During the games, around 11 million spectators are anticipated to attend the games. The majority of those will be tourists from outside of London, who will require a hotel, food and drink, merchandise and transport, just to list a few. Along with the spectators, many people who help make the games a success will embark upon the capital. But they have a different way to get the Olympic Park, using the ‘Olympic Route Network’, which enables athletes, officials, sponsors, the media and VIP’s to get to different events on time.


Speaking of the ‘Olympic Route Network’, Dr Hill, stated: “The Olympic Route Network will have a direct impact on some businesses and they must get to grips with the plans to ensure they can get their staff to work and their deliveries and services to their premises.”

However, it is not just SMEs that need to think about what impacts the games can have on their businesses and commercial properties, but also larger companies should be questioning how prepared SMEs are who they rely on for supplies, as Rick Cudworth, Head the Business Continuity Team at Deloitte, expressed: “With less than a year to go to the Games, the clock is ticking and planning needs to start now. Larger companies will need to consider how well prepared the smaller businesses they rely on for supplies are for the Games as the indications at present suggest there is work to be done.”

So in order the gain the most from the London 2012 Olympic Games, SMEs must start thinking about the implications it can have on their daily business life and also what they can do to monetise from the event.

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