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Financial experts often recommend individuals have an emergency fund to use for unexpected expenses and setbacks.
Prepare and Protect: The Small Business Owner’s Guide to Identifying and Managing Risks
September 9, 2022
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Prepare and Protect Your Business in Five Steps
This guide provides proactive steps for minimizing risk in your business, so you can focus on what matters most—growing it.
Here’s an overview of the five steps to make it happen:
- Secure your business: Conduct detailed inspections and regular maintenance and engage your employees in good risk control practices.
- Prevent common risks: Fires, theft, customer injury and cyber hacking are just a few of the perils a small business owner may encounter.
- Be aware of less common risks: While not as common, risks like customer lawsuits and copyright infringement can be just as damaging to your business.
- Establish a plan: A sound business continuity plan can prepare you and your employees should your business experience a major setback or disaster.
- Business insurance 101: Getting the right protection for your business can make the difference when a loss does occur; use this section to help you get the coverage you need.
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