At Finnies we can provide businesses with help and advice. The following checklist will help you determine your exposure to business risk...
Most seasoned business leaders will testify to the wisdom of Harold Macmillan, who when asked what he feared the most famously replied 'Events, dear boy, events!'
How often do we hear of an unexpected turn of events derailing a business plan or damaging a company's profitability?
Do you know what potential risks threaten your business? Have you taken adequate precautions to protect your business against the 'unexpected'?
Take the risk test below to find out. Each 'No' answer indicates a potential risk for which you are unprepared:
These are just a few examples of the kinds of risk that might threaten a business. If you answered no to 2 or more of these questions, your business could be at risk.
The truth is, of course, that risks should not be unexpected. Although none of us can tell the future, we can all anticipate potential risks and take appropriate precautions.
In our experience, there are four common scenarios in which businesses unnecessarily expose themselves to risks:
To avoid these, we recommend all our clients come in for a regular risk assessment and advice on the most appropriate risk management policies to implement.
If you would like professional assistance from experienced accountants and business advisers, contact Finnies.
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