“Take calculated risks. This is quite different from being rash”
George S Patton
As the great General would agree, going into business should be a calculated risk. There are only some risks you can control.
An effective risk management strategy is required whereby you identify the possible risk, grade the event and design a strategy to minimise, manage or remove the risk.
You need to start by producing a risk management checklist. Some examples of business risk are Owner accident/illness, business disruption, public liability and work cover.
Last month I spoke about your preferred trusted advisor. This same person should be able to assist you with this as well as provide solutions. If you would like assistance with your Risk Management Strategy, please contact us
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