As a business operator, it is expected good planning and techniques to reduce risks in his business. Risks are unavoidable in business. It may be so sudden or soonest. Reducing risks means reducing failures. The ways to reduce risk are through daily checking of the bookkeeping, checking the results of the weekly inventory, checking the weak areas in business so that immediate action will be done,and reading the feedback from customers.
Reduce your risks in business
- Thread starter Starmix
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Another way of reducing your risk in business is by saying no to taking a loan for a business because it is not good and I have never seen a situation whereby its ends well especially when it is a new business
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- #3
It depends on the nature of the business. A loan will be granted if its nature is loaning and if it is a big store, there is no loan, all will be purchased in cash or in credit card.
These days there is no business out there that does not have its share and level of risk, the best thing you can do is to ensure the risk is something you can cope with and at the same time learn how to manage it to the minimum.
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- #5
Yes, you are right, the business owner must always be prepared to face the risks of his buses squarely to avoid mental stress. Risk is something a business operator cannot avoid encountering.It is part of business management.
