Managing Risk at Your Business

Every business faces natural and man-made events that could lead to potential loses of property or capital.  These negative incidents and their probability are known as risk.  The risks an individual organization will face will vary depending on geographic location and the types of services or products they provide.  Every business has to analyze and manage risks differently depending on their own situation.

For many small businesses, the risks they face may not be apparent and the consequences of failing to recognize and prepare for them can be catastrophic.  Large disasters such as tornadoes, floods and hurricanes can’t be prevented but actions can be taken to mitigate the damage.  Smaller incidents such as chemical spills and fires can be equally devastating for a business but are easily prevented.

One common risk to businesses are the hazardous materials they use such as flammable solvents, corrosive cleaners and other toxic materials that are prevalent in manufacturing and repair shops.  These risks can be reduced by removing the most hazardous chemical products.  Chemical manufacturers have made efforts over the years to increase the safety of their products and offer many alternatives that prove to be less of a liability to the end user.  Many companies are also re-tuning their processes so that they use fewer hazardous chemicals and produce less waste.  When fewer chemicals are on site, the likelihood of a spill or injury decreases.

When keeping hazardous chemicals on site is a must, the risk can be mitigated with proper storage and waste disposal practices.  Flammable cabinets, containment tanks, and reliable waste disposal services require an investment but will be well worth the cost if an accident occurs.  Training employees on safety procedures and equipment upgrades and maintenance are other investments that could prevent accidents from happening in the first place.

If a business takes these steps and disaster still strikes, a comprehensive contingency plan can be the last line of defense.  These plans outline response actions and partners that can be called on to help when an accident is unfolding.  When a chemical spill occurs, a business needs a response contractor who can provide immediate, cost effective containment and cleanup services.  Protect Environmental has performed emergency cleanups for hundreds of clients and our teams regularly prevent further damage and allowed normal operations to restart sooner.

Managing risks can be tough so contact our office and let us help you find solutions tailored to your business.

HUBNFPA Member

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