To assess your business’ environmental risk, we need to look at your customers and the industry you’re operating in.
- Is it a low, medium or high-risk industry?
- Who are your main competitors?
- How much competition is there?
- Are there any special factors that will attract customers to buy from you rather than from your competitors?
- How many main suppliers will you have, and will they let you buy goods on credit?
- Does anyone else have similar products that could affect your business?
- How easy is it for new competitors to enter the market?
- Is your business seasonal?
- Could any political event or policy have an impact on your business (eg strikes)?
- How well do you know your target market?
- Do you have a good location for your business?
- Are your premises owned or leased, and do they allow for expansion and improvements at a later stage?
- How many skilled and unskilled staff will you employ?
- What percentage of your staff will belong to trade unions, and what’s the culture of the trade union?
- If you have a manufacturing business, will you need to buy new or second-hand machines? How will this affect your cash flow?
- Do you have good stock and quality control?
- Do you have a place to store the finished product?
- How sensitive is your business to the ups and downs of the economy?