Risk Assessment for Small Businesses
A practical guide to identifying and prioritizing risks within small organizations.
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Identify risks
Begin by listing operational, financial, legal, and external risks that could affect your organization.
Score likelihood and impact
Evaluating both probability and severity helps determine which risks deserve the most attention.
Design mitigation plans
Risk controls may include insurance, operational procedures, technology safeguards, or contractual protections.
Review regularly
Business risks evolve over time, making periodic reassessment important.
If you want a practical overview tying these concepts together, see Business Risk Checklist for Small Businesses.