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.
This category includes risks associated with:
the market and the sustainability of the business
potential growth of the business
Is the business diversifying its operations to minimise risks in the marketplace?
Businesses can encounter a number of significant compliance and legal risks, including:
changes to laws through changes of governments
trade practices legislation
non-performance of a legal agreement resulting in legal action
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)