How to manage and avoid common risks to your business
Globalization, technology, and new business models are giving Canadian Food and Beverage (F&B) businesses more opportunities for growth than ever before. But with opportunity comes risk. Whether it means facing digital disruption or global turbulence, the world is an increasingly riskier place.
Small and medium sized businesses are not immune to these risks—in fact their size makes them more susceptible when risk turns into reality because they typically have less diversification and financial resources. This does not mean small businesses should panic; the best action to take for risk management in the food industry is to be proactive.
In this white paper we provide insights into how F&B businesses can better understand and manage seven key risks:
- Supply chain disruption
- Variable energy and commodity pricing
- Regulatory risk
- Exchange rate fluctuation
- Business interruption
- Digital disruption
Greater opportunities present greater risks
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