Businesses could go bankrupt unless they think now about how the 2012 Olympics is going to affect them, according to the chairman of the Elmbridge branch of the Federation of Small Businesses.

Derek Williamson said staff leaving to work on Olympic contracts or as volunteers could leave some of the borough's companies massively understaffed as early as 2011.

Mr Williamson, who also runs accountants G & Co Hersham Ltd in Queens Road warned that businesses had to act now to avoid problems.

"Some businesses are being very naive in thinking that the Olympics will have no bearing on them," he said.

"70,000 people are required as stewards at the games and the catchment area will include all of Surrey."

He said the "chance of a lifetime" to work at the games meant many employees would leave their current jobs or ask for an extended period of unpaid leave which unions are supporting.

Building firms could also find it very difficult to get staff in the run in to the games as tradesman are drafted in to finish late running construction jobs.

"All of a sudden people will find their business have dried up and some will go bankrupt," he added.

He said businesses should talk to their staff now to find out about their plans, and consider salary increases to keep on staff through the games.

He also said the games were "a double edged sword" which could also offer great business opportunities for Elmbridge companies that had not considered its benefits.

For more information on business and the Olympics visit businesslink.gov.uk.