SMBs increase investments in risk management

Companies surveyed by Nexia rank compliance and operational risk as the most significant risks facing their businesses

As compliance and operational risks come into greater focus within organizations, a new study revealed that over two-thirds of small and medium-sized businesses (SMBs) around the world now have a formal risk assessment process in place.  

Overall, the companies surveyed by London-based consulting firm Nexia ranked compliance and operational risk as the most significant risks facing their businesses. Companies said they are least prepared to deal with social media, succession planning and natural or man-made disasters. Respondents also cited risks surrounding global expansion as a key area.

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Erin E. Harrison

Erin E. Harrison is the Editor in Chief of InsideCounsel magazine. Harrison’s professional background includes extensive expertise in both print and online media, highlighted by...

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