Risks You May Face In Your Business

The types of risk your business faces

The main categories of risk to consider are:

Strategic – a competitor coming on to the market

Compliance – responding to the introduction of new health and safety legislation

Financial -non-payment by a customer or increased interest charges on a business loan

Operational – the breakdown or theft of key equipment

These categories are not rigid and some parts of your business may fall into more than one category. The risks attached to data protection, for example, could be considered when reviewing both your operations and your business’ compliance.

Other risks include:

Environmental Risks – including natural disasters

Employee Risk Management – such as maintaining sufficient staff numbers and cover, employee safety and up-to-date skills 

Political and Economic Instability – in any foreign markets you export goods to

Health and Safety Risks

Commercial Risks – including the failure of key suppliers or customers

Scurich Insurance can help you with Risk Management Consulting for your business.

320 East Lake Avenue, PO Box 1170
Watsonville, CA 95077-1170
Office: 1-831-722-3541
Toll Free: 1-800-320-3666