- Small Business Trends - https://smallbiztrends.com -

It Is Almost Year End – Do You Know Where Your Risks Are?

We are coming up on year end, and it is natural to start thinking about conducting a review of your business to get ready for the new year ahead. Most people automatically think of reviewing taxes. That is good. But taxes are just one slice of the liability picture. You need to look at more.

As a small business owner, your personal assets may be at risk in the event of legal liability or even a downturn in your business. Some of the risks that you should be evaluating are:

These and many other questions should be the starting point for your year-end business review.

For a helpful guide of all the issues you should be looking at, check out “Small Business Guide to Risk Management.” This free book was put together by the Association of Small Business Development Centers [2] and is by AIG Small Business. I recently picked up a copy of this book at an event but luckily found it is available online. Download Small Business Guide to Risk Management in PDF form.