For the most part, businesses run well, employees love their job, and employers are good people. But when it goes wrong, it can go badly wrong for both. The threat of legal action has greater consequences than you think – let’s put it in perspective.
The role of an SMB owner is wide-ranging and understated: CEO, general manager, accountant, HR manager, and marketer. Without the luxuries afforded to a larger organisation – such as having a risk management team – small business owners need to self-manage all risk scenarios and shortcomings in-house.
With the ever increasing fast pace of society, a successful business, particularly an entrepreneurial one, often needs to take business risks to stand out. However, risks often bring with them the potential for liability.
Five key areas to consider before rolling out your brilliant new business idea too quickly.