Don Cruickshank, chairman of the government backed group Action 2000, said he was confident that the majority of large businesses in the UK and the public infrastructure are ready to face the millennium date change.
Cruickshank said today, as he launched Action 2000's "Last Chance" campaign, he had been close to telling the UK government that it was not necessary, at least as far as large businesses were concerned.
Despite Cruickshank's confidence, he said that the government was keen to "give it one more go" and try to kick start small and medium UK businesses, many of which have yet to take any action.
The campaign centres around a "Last chance guide" - a booklet with a step by step guide to focus businesses on the areas critical to their survival, whatever their size. The group warned that around 65,000 businesses with 10 to 249 employees still have not done enough to tackle the bug and around 500,000 businesses with one to nine employees have done little or nothing.
The booklet will be mailed to 1.3 million businesses between 13 September and 22 September.
"The millennium bug is a major threat to all businesses. No matter how thorough the preparations, no one is absolutely safe. That is why it is essential that the unexpected is taken into consideration and businesses have robust millennium contingency plans in place," said Cruickshank.
He added that any small and medium businesses that do not take action run a high risk of going out of business over the next year.
"For thousands of small businesses the millennium date change could be described as the final challenge of the 20th Century. I would therefore urge businesses, whatever their state of readiness, to use the guide either as a lifeline or a safety net to ensure the odds are in their favour as the millennium approaches," he said.
"The millennium bug is a unique and unprecedented threat for British business that they cannot afford to ignore," he added.
Molybdenum ditelluride is a two-dimensional material that can be easily stacked into multiple layers to create a memory cell
New light-guiding nanoscale device can control and monitor a nanoparticle trapped in a laser beam with high sensitivity
Optical traps are scientific instruments in which a focused laser beam is used to exert an attractive or repulsive force on a microscopic object to hold it in place
Scientists estimate that the exoplanet has already lost up to 35 per cent of its mass over its lifetime
The observations were made using the Atacama Array in the Chilean desert