Starting a business is risky and sometimes that risk comes from places outside the control of the entrepreneur. This section contains posts that describe the external risks entrepreneurs can face that are not related to government actions that are coved in their own subsection.
A risk matrix is a tool that is used during risk assessment to define the level of risk by considering the probability or likelihood that an event against the severity of the consequence to the business if it were to occur. A risk matrix is a visibility representation of risks to assist a business in decision making and mitigation.
How a crisis like the COVID-19 pandemic evolves will change from crisis to crisis, however, the five crisis stages of Resolve, Resilience, Return, Reimagination, and Reform will provide business owners a clearer path to navigate to the next normal.
A job description can help make sound hiring and operation decisions. Having the right people with the right knowledge, skills, abilities, and attitude at the right time are critical to the future success of any business.
Many small businesses do not have an employee handbook, yet an employee handbook is one of the most important documents that a small business can have to prevent exposure to wrongful termination lawsuits, and a vital tool to set proper expectations with new employees.
Keeping things secure from criminals or opportunists should be a priority for a small business owner. However, many small business owners fail to implement proper security strategies to protect a small business, since they have the mistaken belief that only larger business with more valuable assets are targeted by criminals.
What kind of small business insurance is right for your business? While there are many different kinds of small business insurance, here is a list of the most common types of insurance that a small business may want to consider.