Risk Management

Risk management encompasses the identification, analysis, and response to risk factors that form part of the life of a business. An effective system will help maintain the safety of staff, whilst protecting business resources. It is an essential part of effective business planning and is vital for all businesses. Risk management helps you make better business decisions. It involves reducing the things that could negatively impact your business but also highlights opportunities that could offer a positive impact.

Types of risk

How can you manage risk in your business?

Decide what matters most

Identify the risks

Analysis of the risks

Develop an appropriate response

There are risks involved with every business decision you make. Decisions that could affect your business survival and growth. It is important to understand the basic principles of risk management and how they can be used to mitigate the effects of risks on businesses. For more information please visit the Business Risk Government website or contact our team.

The Money Edge | Cassie McAdam | Bundaberg

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