Risk assessment is critical for small and medium enterprises (SMEs) as it provides a structured approach to identifying, evaluating, and managing potential risks that could threaten their operations, profitability, and overall success.
By conducting a thorough risk assessment, SMEs can pinpoint vulnerabilities in their business processes, supply chains, and market positions, allowing them to proactively implement mitigation strategies. One major importance of risk assessment is that it helps SMEs allocate resources more efficiently. By understanding which areas […]
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