Businesses losing by not getting ready for 2012 Olympics, says Lloyd’s

Businesses could lose out on a share of almost �3 billion because they are not gearing up for next year’s Olympics, according to a financial industries survey.

Only one-in-three firms believe the Games will help their growth out of the recession, according to the study by Lloyd’s Banking Group.

“It’s a big mistake assuming that if your industry isn’t directly related to the Olympics you have nothing to prepare for,” warned Neil Mahoney, the bank’s East London commercial regional director.

“Businesses should be prepared to deal with other aspects of the Games like the impact on transport, security and staffing—it’s not too late to bid for remaining contracts.”

The turnover of potential business is estimated at �2.9bn. But half the firms canvassed believe they don’t have anything to gain from the Olympics, while one-in-10 feel it is already too late.