Develop a Risk Management Strategy for your business using the table below as a guide.

1. Base the risk management strategy on areas covered in your Business Plan (Part A)
2. Identify the areas of risk
3. Provide a description of the risk and the potential impact to your business.
4. Determine the likelihood of this risk happening and describe it as either highly unlikely, unlikely, likely, or highly likely.
5. Describe the level of impact it may have on your business, whether it could be high, medium or low
6. Outline your strategies for minimising or mitigating each potential risk

Area

Issue

Low Risk

Medium Risk

High Risk