Strategies to minimise rism

• Set aside money in case machinery breaks down and repairs are required. Service equipment regularly.
• Obtain copyright on your ideas, products and advertising. This is called  patent
• Put into place a strict credit policy with the limits to pay
• Have insurance against fires, floods and other dangers. Ensure cover is adequate
• Use a range of suppliers, and develop strong relationships with them. Do not rely on one person.
• Install anti-virus software, backup files to have additional copies of information.
• Keep detailed financial records and stay up to date with tax requirements.
• Conduct market research to find out why sales are falling, and reduce other costs in the business.
• Comply with safety and product laws and requirements, ensure a safe workplace.
• Ensure you have life or medical insurance.
• Slow the growth rate of the business to a more manageable level.
• Take out insurance against loss of stock. Have security and crime prevention measures in place.