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National Stands Authority Publishes SME Risk Management Handbook

Published on Mar 12 2016 9:00 AM in Retail tagged: SMEs / National Standards Authority / Risk Management

National Stands Authority Publishes SME Risk Management Handbook

The National Standards Authority of Ireland has published a new handbook to help SME’s proactively prepare for risks.

ISO 31000 – Risk Management is described as being a practical guide for SMEs that gives practical advice on how Irish organizations can make the most of the International Standard on risk management (ISO 31000:2009), and integrate good practices into their strategic decisions and their day-to-day operations.

CEO of the National Standards Authority of Ireland Maurice Buckley said, "Research shows that only half of all small and medium-sized enterprises (SMEs) survive beyond their fifth year.

"Risks affecting organizations can have consequences in terms of economic performance and professional reputation, as well as environmental, safety and societal outcomes. Therefore, managing risk effectively helps organizations to perform well in an environment full of uncertainty."

SMEs now account for 99.7% of all active business enterprises in Ireland, and generate half of the country’s turnover, according to the CSO’s 2012 Business in Ireland study. The same research also revealed that SMEs employ 68% of the workforce.

Author of the handbook, John Lark, explained that it is structured as a checklist with a series of questions and related actions to guide users through the creation of a successful risk management system.

"The question-and-answer format, as well as a comprehensive table of contents, allows readers to jump immediately to a subject or aspect of risk management that is of interest to them, or which is proving to be difficult," he said.

© 2016 - Checkout Magazine by Jenny Whelan.

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