An Australian Bureau of Statistics survey shows just under 60 per cent of Australian businesses intend to, or have already taken action to address the year 2000 issue.
The survey shows 93 per cent of businesses are aware of the problem and most plan to address Y2K. However, only one third of businesses have sought assurances from their suppliers, service providers or customers about their Y2K readiness.
Only 20 per cent have developed contingency plans, the survey showed.
While most businesses indicated an intention to undertake year 2000 preparations, almost half had not commenced that work in October 1998. Virtually all expect to complete the work by the end of 1999, the survey showed.
The two main reasons organisations had not taken remediation steps were that: more than half thought they would not be affected, and more than one third were unsure of what action to take or were unaware of the problem.
The ABS said businesses had difficulty estimating the cost of their year 2000 work. More than half the businesses surveyed could not provide an estimate of the cost of remediation work.
The survey is available at http://www.abs.gov.au