Category: Business Threats

Here are the top 10 business threats that you should read and understand. As you read through the list, consider the unique risks facing your business and ask yourself whether those risks are being managed effectively. Optimism is the fuel that drives the entrepreneurial spirit, so it isn’t surprising that most small business owners consider themselves optimists. Too much optimism, however, can get a small business owner into trouble.

A business plan built solely on the “best-case scenario” is like a house of cards, one gust of wind—or fire or wrongful termination lawsuit—and the entire business can come crashing down. That’s why smart business owners temper their innate optimism with a healthy dose of reality. In other words, they learn to manage risk. Property holdings are often a small business owner’s largest asset. Therefore, for the long-term security of your small business, it is vital that you evaluate potential threats to your property and develop a plan to manage those threats.

Business Insurance

The Management File : TOP 10 THREATS TO SMALL BUSINESSES

Optimism is the fuel that drives the entrepreneurial spirit, so it isn’t surprising that most small business owners consider themselves optimists. Too much optimism, however, can get a small business owner into trouble. A business plan built solely on the “best-case scenario” is like a house of cards, one gust of wind—or fire or wrongful termination lawsuit—and the entire business can come crashing down. That’s why smart business owners temper their innate optimism with a healthy dose of reality. In other words, they learn to manage risk. The first step in implementing a comprehensive risk management plan is identifying potential risks. To help you get started, we have provided a list of the top 10 threats facing small business owners. As you read through the list, consider the unique risks facing your business and ask yourself whether those risks are being managed effectively:

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