Risk Management Strategies for Small Businesses

In June of this year, the U.S. Small Business Administration (SBA) published a great article on their website, 5 Best Risk Management Strategies, by Barbara Weltman, Guest Blogger. Ms. Weltman writes,

“Being in business is exciting but it also means facing challenges and risks every day. These risks and threats to your business can come from innumerable sources, including economic conditions, lawsuits, competitors, and the weather. In order to be able to sleep at night, it’s essential that you adopt a variety of risk management strategies. These are designed to avert catastrophe and provide you with protection to the extent possible. There’s no single action to shield you from the consequences of risks to your business. You need to take a holistic approach and cover your bases. Here are five strategies to consider. Read more…”

Part of the strategy of risk management comes from understanding your company’s financial health. Understanding it involves more than guessing and a quick look at your bank account. Let us help. At Expex we help you increase your cash on hand, improve profits, and grow your working capital. Get your current days cash on hand and manage cash flow. Collect receivables faster and efficiently manage payables.

Let’s turn your efforts in health and growth. More time and money create a better workplace a healthier business. Better workplaces can hire top talent and healthy businesses have the resources to plan execute and grow. Contact us to learn more.

We wish you a happy, healthy holiday season and good fortune in 2019.

Special thanks to Barbara Weltman, Guest Blogger. Barbara Weltman is an attorney, prolific author with such titles as J.K. Lasser’s Small Business Taxes, J.K. Lasser’s Guide to Self-Employment, and Smooth Failing as well as a trusted professional advocate for small businesses and entrepreneurs. She is also the publisher of Idea of the Day® and monthly e-newsletter Big Ideas for Small Business® and host of Build Your Business Radio. She has been included in the List of 100 Small Business Influencers for three years in a row. Follow her on Twitter: @BarbaraWeltman.