Risk management is not anymore a tickbox activity that is undertaken to keep the board and the regulators happy. Given the higher VUCA (volatility, uncertainty, complexity, ambiguity) factor in the operating landscape, inadequate risk management will have an increasing impact on any business, large or small. In fact, the crystallization of some risks in SMEs can do irreversible damage to their financial viability and solvency.
While one can't expect the smaller businesses to have a formal risk management structure in place, it is critical that the entrepreneurs (i) understand, (ii) assess periodically and (iii) attempt to mitigate such risks through appropriate mechanisms that are readily available in the market.
It is heartening to note that the important stakeholders like FE Aspire are making efforts to bring in the needed focus on the role of risk management in MSMEs. It was a pleasure to attend their event and share our views. SMERA Ratings Acuité Ratings & Research Limited Sankar Chakraborti
#msmeindia #riskmanagement #smeratings
https://lnkd.in/dkN2m9fK
Live now at #FEMSMELC
Panel Discussion on Risk Management for MSMEs: Mitigating Financial Risks in Business with Alok Dwivedi, Executive VP- Commercial Lines, Reliance General Insurance, Preeti Saharan, Partner – Financial Risk Management, KPMG India, Sandeep Agrawal, Co-Founder and Director, TeamLease Regtech Pvt. Ltd., Suman Chowdhury, Executive Director, Head - Research & Chief Economist, Acuité Ratings & Research Limited and moderated by Utkarsh Sinha, Managing Director, Bexley Advisors.
Collection Specialist At - MAHINDRA AND MAHINDRA FINANCIAL SERVICES LIMITED
2moI am interested please give me chance