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Future-proofing your business by managing risk
Businesses deal with many day-to-day challenges that are just part of daily life, but it seems that lately, they are also having to contend with events that have the potential to become disruptive.
Events such as the COVID-19 pandemic continue to cause disruption and impact our way of life and the economy. Some of the changes we have seen due to the pandemic, including the increase in remote and hybrid working, along with digital adoption, will continue long after the current restrictions are lifted. These are some of the challenges businesses are now facing. New import control measures have recently come into force and from 1st January 2022 businesses must now complete customs declarations on imports from the EU to GB at the time that they bring them into GB. This means businesses will no longer be able to delay making import customs declarations. Risks come in many guises including financial, strategic, compliance, reputational, and operational. It is therefore crucial that key personnel within a business are aware of the part that they each play in identifying these risks so that they can be effectively managed.
What is Risk Management?
Risk management, simply put, is about identifying risks, and predicting how probable how serious they are or might become and putting steps in place to deal with them. Determining the risks that could undermine your business in time is critical to building a sustainable business. Horizon scanning can be made easier using analysis tools such as PESTLE (Political, Economic, Social, Technological, Legal and Environmental) to gain a macro overview of factors which may pose a risk to your business.
What is a Risk Assessment?
Risk assessments vary depending on the sector a business operates within and the activity that it is involved in. It is a process of identifying hazards and evaluating any associated risks within a workplace, then implementing reasonable control measures to remove or reduce them. The most common types of risk assessments in workplaces include fire, manual handling, display screen, and COSHH, but since 2020, a COVID risk assessment has become an essential part of a businesses’ duty to its employees and customers.
For businesses with fewer than five employees there isn’t a requirement to have a written risk assessment, but it’s certainly best practice to have carried one out.
Support to manage risk
Support is available from Hertfordshire Growth Hub to help businesses in the County plan for the future. The website’s Knowledge Bank contains a wealth of videos, templates, and articles. The Stay Safe, Stay Open package of support, delivered in partnership with Hertfordshire with Visit Herts and Better Business for All, offers eligible businessesfully funded 1:1 support with health and safety advice and updating risk assessments to ensure that they can continue to trade safely and plan for future.
Grow with us hertsgrowthhub.com
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To find out more about becoming a Diamond Club please contact: GET IN TOUCH To find out more about becoming a Diamond Club please contact: GET IN TOUCH To find out more about becoming a Diamond Club please contact: GET IN TOUCH M M M e e e m m m berber ber ofof of thethe the Gemma Rydqvist GemmaGemmaHead of RydqvistRydqvistMembership Head of MembersHead of MembersEmail: membershhihiipp p @hertschamber.com Email: membershipEmail: membershipMob: 07377 361609 @ @hertschamber.comhertschamber.com Mob: 07377Mob: 07377Office: 0170 3616093616097 502185 Office:Office: 0170701707 5025021 18 85 5 “In becoming a recent Patron of Hertfordshire Chamber of Commerce, it was a natural step for CAE to get involved more and sponsor Herts Chamber’s newest membership offering – the Diamond Club. CAE has over 300 staff with a vested interest in the county, so what better way to give something back by supporting the region’s most influential business leaders and organisations to grow their knowledge, influence and connectivity. I am really looking forward to help the Chamber enhance the county’s business environment and encourage working together as a region.
Richard Behan Chief Corporate Development Officer CAE Technology Services We are delighted to have Paul Graham, GB Managing Director at Britvic speaking at this lunch on the topic of diversity and inclusion and its impact on his business. Following a variety of commercial roles at both United Biscuits and Mars Confectionery, Paul Graham joined Britvic as GB General Manager in September 2012. He was then appointed GB Managing Director in July 2013. With over 25 years’ experience working with major FMCG companies, Paul leads the business in identifying the right trends and consumer insight to create a broad and relevant soft drinks portfolio that is fit for purpose today and in years to come. Paul has a BSc in Management Sciences from Manchester University and is President of the The British Soft Drinks Association.
“In becoming a recent Patron of Hertfordshire Chamber of Commerce, it was a natural step for CAE to get involved more and sponsor Herts Chamber’s newest membership offering – the Diamond Club. CAE has over 300 staff with a vested interest in the county, so what better way to give something back by supporting the region’s most influential business leaders and organisations to grow their knowledge, influence and connectivity. I am really looking forward to help the Chamber enhance the county’s business environment and encourage working together as a region.
Richard Behan Chief Corporate Development Officer CAE Technology Services We are delighted to have Paul Graham, GB Managing Director at Britvic speaking at this lunch on the topic of diversity and inclusion and its impact on his business. Following a variety of commercial roles at both United Biscuits and Mars Confectionery, Paul Graham joined Britvic as GB General Manager in September 2012. He was then appointed GB Managing Director in July 2013. With over 25 years’ experience working with major FMCG companies, Paul leads the business in identifying the right trends and consumer insight to create a broad and relevant soft drinks portfolio that is fit for purpose today and in years to come. Paul has a BSc in Management Sciences from Manchester University and is President of the The British Soft Drinks Association.
“In becoming a recent Patron of Hertfordshire Chamber of Commerce, it was a natural step for CAE to get involved more and sponsor Herts Chamber’s newest membership offering – the Diamond Club. CAE has over 300 staff with a vested interest in the county, so what better way to give something back by supporting the region’s most influential business leaders and organisations to grow their knowledge, influence and connectivity. I am really looking forward to help the Chamber enhance the county’s business environment and encourage working together as a region.
Richard Behan Chief Corporate Development Officer CAE Technology Services We are delighted to have Paul Graham, GB Managing Director at Britvic speaking at this lunch on the topic of diversity and inclusion and its impact on his business. Following a variety of commercial roles at both United Biscuits and Mars Confectionery, Paul Graham joined Britvic as GB General Manager in September 2012. He was then appointed GB Managing Director in July 2013. With over 25 years’ experience working with major FMCG companies, Paul leads the business in identifying the right trends and consumer insight to create a broad and relevant soft drinks portfolio that is fit for purpose today and in years to come. Paul has a BSc in Management Sciences from Manchester University and is President of the The British Soft Drinks Association.
