When your company is doing well, revenue is pouring in, and your profit is rising, how can you tell which of your practices, approaches, beliefs, strategies will not turn riskier into future?

Many entrepreneurs are constantly afraid that they may make a mistake once attaining a certain level of success.

SMEs are exposed to risks all the time. Such risks can directly affect day-to-day operations, diminish revenue or increase expenses. Their impact may be serious enough for the business to fail as many businesses survive on the thin margins. Still, many businesses overlook or ignore such risks – a fatal mistake.

We assist in an independent assessment of risks. It is distressing to see that many entrepreneurs are suffering due to fraudulent acts, unsatisfactory internal control, lacking to grasp the trends in industry, operating environment, etc.

ERM Framework

The impact of risk is not equal and the frequency of occurrence may not be same. Some risks may not be significant enough to attend to. Hence it is necessary to have a clear understanding of risks and the managements’ response strategy. ERM (Enterprisewide Risk Management Framework) is a necessary part for an enterprise that include:

Avoidance: Exiting the activities giving rise to the risk

Reduction: Taking action to reduce the likelihood or impact related to the risk

Alternative Actions: Deciding and considering other feasible steps to minimize risks

Share or Insure: Transferring or sharing a portion of the risk, to finance it

Accept: No action is taken, due to a cost/benefit decision

Our Services

Build Risk Inventory covering industry, strategy, management, marketing, human resource, finance, business process, market, compliance etc

Advising on mitigating the risks identified including bringing in Improvements and finding solutions

De-risking through appropriate Insurance products.

Introducing Internal Audit Practice to keep oversight

Risk Management is the way for every SME to secure a sustainable future for their business, protecting the assets thereoff and defending against any liabilities that may accrue in the future.

This will make entrepreneurial journey risk-free and stress-less.