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Today, many of the UK's most senior business leaders will discover the power of an often forgotten asset as The National Archives launches a new publication, Corporate memory – a guide to managing business archives.

Through this guide, The National Archives demonstrates how businesses can use their archives to explore new markets, provide legal and regulatory protection and succeed in today's competitive markets.

The guide highlights many different ways companies are successfully using their archives and the benefits of maintaining high quality records.

Parliamentary reception

Business leaders attended a reception at the House of Lords, hosted by the All-Party Parliamentary Group on Archives and the National Council on Archives, to launch the guide. 

Eminent speakers Sir Stuart Rose of Marks & Spencer plc, Professor Mervyn King, Governor of the Bank of England and Dame Stella Rimington, former head of MI5 and professional archivist, promoted the value of archives to the business sector.

Learning from the past

Sir Stuart Rose said, 'We're celebrating 125 years of M&S this year and most of what we have delivered to mark our birthday has been inspired by our wonderful archive collection. Businesses can learn so much from their pasts that is relevant to today's consumer.

'Unless we take action now to preserve our corporate heritage we are at risk of losing it – which is why M&S is pleased to be supporting the work of The National Archives.'

Professor Mervyn King, Governor of the Bank of England also gave his support: 'I am delighted to support The National Archives in helping the business community realise the potential of their corporate memory. This comprehensive guide to company archives clearly highlights the value of knowledge management and record keeping.

'It is only by having reliable archives that we can learn from, and fully exploit, the experience of earlier generations.'

Treasure trove

On launching the guide, Professor the Lord Bew, Secretary to the All-Party Parliamentary Group on Archives commented that, 'Companies with a long history of trading have a fantastic treasure trove of material to exploit and must look after this important asset.

'Newer businesses should also develop ways to keep records safe and to start to build an archive to tell the story of their company's development and to use for helping to protect their innovations.'

Natalie Ceeney, Chief Executive, The National Archives said, 'Business archives are a truly essential part of our country's commercial history. They are also clear proof to present and future entrepreneurs of the importance and value of information management.'

National Strategy for Business Archives

The guide's release coincides with launch of the National Strategy for Business Archives, written by The National Archives in partnership with the Business Archives Council, the Society of Archivists and other sector bodies.

The strategy aims to ensure that the archives of our nation's business are cared for, protected and properly used in the future. The National Strategy for Business Archives is available on the Business Archives Council website www.businessarchivescouncil.org.uk.