In today’s business environment, it can be a challenge keeping up with business, regulatory and compliance changes. Risk is one of the most overlooked areas in small businesses in spite of the fact that it is clear to most small business owners that operating any business involves risk. While taking a risk and winning is fun, prudent business owners take care to minimize the risk, just as you would in any other type of risky venture you undertake. A good risk management system is a continuous process of analysis and communication.
Risk Management can mean insurance, environmental issues, financial safeguards, security services, backup systems and government regulations – all of which are valid risk control systems. Part of the difficulty is that each business will have different types of risks and Saklas & Co. can help to identify potential financial risks and develop safeguards for the business owner.
From a financial Risk Management perspective, we can assist in the development of a sound Cash Flow and Revenue Plan. By developing or refining a cash flow and revenue plan, business owners must think through their business model and how their products or service will perform in a particular sector and market. This exercise helps owners give careful consideration to the internal and external forces that affect revenue, cash flow and profitability. Cash flow management tools are readily available through our office or through a certified lending institution.
Contact our team today – 604-531-2292.