In business there are many things that are outside of your control. The first step to managing risk is to understand it. So reviewing the risks peculiar to your business is an important step.

Who does your business depend on (customers, suppliers, employees, knowledge) and what would happen if they let you down? What about IT systems and plant – what happens if these fail?

Are your assets protected – do you have the right debt and equity structure to protect your personal assets?

Once you understand risk then you can take steps to manage it.