Business risk describes the problems a company potentially encounters in the course of its daily operations. Business risk is inevitable, you can’t protect against every potential pitfall. However, being prepared will help you prevent or mitigate most of them.
Assess and identify the potential risks to your business and seek out those whose opinions you respect for advice.
In having adequate business insurance you may feel you are covered, but the best insurance is prevention. Preventing risks from occurring in your business is best achieved through addressing potential risks in your business plan, employee training and background checks, regulatory compliance, equipment maintenance and maintenance of the physical premises.
If and when risk becomes reality, a well-prepared business can limit the risk’s impact.
Use the Business Overview Tool today so HOW2 can get a better sense of your business and subsequently the areas of advice that will best suit you.
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