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Risk Management – Issues For SMEs

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There are a wide number of risks that can pertain to small/medium enterprise operations.  This edition will cover few of these risks and we will comment on other risks in future editions. Commercial Risk This category includes risks associated with:
  • the market and the sustainability of the business
  • potential growth of the business
  • export opportunities
Is the business diversifying its operations to minimise risks in the marketplace? Compliance/Legal Risk Businesses can encounter a number of significant compliance and legal risks, including:
  • changes to laws through changes of governments
  • product safety
  • trade practices legislation
  • defamation
  • non-performance of a legal agreement resulting in legal action
Environmental Risk This category includes consideration of environmental issues that might affect the business, including weather issues (cyclones, sandstorms, floods, tsunamis, droughts and storms).  Other environmental issues include:
  • incorrect storage of chemicals
  • incorrect disposal of products into stormwater drains
  • biological issues (virus, bacterial, fungi, human tissue)
  • physical issues (noise, temperature such as extreme heat or cold)
  • carbon footprint position
  • tree removal
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UNITY ADVISORS

Suite 452, Level 5,

311 Castlereagh Street

Sydney 2000

Ph  (02) 9280 3336