A survey into the Y2K preparedness of small to medium sized Australian businesses has revealed an alarming lack of awareness about the potential impact of the problem on business operations.
The Year 2000 Research survey, conducted by the Australian Bankers' Association in conjunction with the Federal Government, surveyed 1000 small to medium sized businesses to determine their current state of Y2K readiness and awareness.
The survey found that only 22 per cent of small businesses and 51 per cent of medium-sized business had taken any action so far with 76 and 66 per cent of respondents saying respectively that the problem did not affect them or was a low priority.
However, the survey also found that 82 per cent of respondents use some technology that is vulnerable to the problem with more than 30 per cent dependent on the systems of business partners and suppliers.
According to Tony Aveling, chief executive with the Australian Bankers Association, the situation is fast reaching crisis point.
"Businesses may be placing their survival at risk by complacency in dealing with the millennium issue," Aveling said.
"They are playing Russian roulette with their businesses."