A loss reduction plan is essential to combat business risks that are either inevitable or very likely to occur. The first stage of a loss reduction plan is to acknowledge the maximum potential loss by factoring in as many variables as possible. Once you have a good idea of what the potential loss could be, you then have to decide what you would consider to be a manageable or acceptable loss for your business to deal with. The complexities of modern day business structures mean that most businesses require loss reduction plans for a large number of potential risks. REDUCE…
How to build a loss reduction plan for your small business
