Control your financial risks

Identify the financial losses that could seriously disrupt your business and put practical protections in place. Establish who can approve spending, access accounts, change supplier details, and release payments.

Verify unusual payment requests or changes in payment instructions through a trusted contact method, and arrange a second person’s review of significant payments where possible. Protect financial information with secure access and reliable backups.

Consider exposures such as customer nonpayment, theft, property damage, or dependence on one major customer, then choose safeguards suited to those risks. Review insurance coverage, limits, exclusions, and deductibles so you understand what protection you have and which potential losses remain your business’s responsibility.