OPERATIONS
The Business Bulletin
What are your top 10 business risks? Have you considered recently which risks pose the highest impact on your business? Risks will vary according to the size of your business, the nature of your business and the markets you operate in.
There are many experts in the field of risk management and each will have their own opinion however, here we will highlight what we consider to be the greatest risks to your business and question what you are doing about it:-
1.Liquidity Sounds obvious right? But do you have a monthly cashflow forecast and is it updated regularly? Whilst the forecast will fluctuate according to business demands,
at least you have an indication of ‘expected’ revenues and costs. I already have a cashflow forecast for 2023 and whilst it will undoubtedly change, I have my starting operational budget. Create your cashflow forecast and review/update regularly.
Issue 20 | 25
