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Small and medium-sized enterprises (SMEs) face distinct challenges when it comes to risk management. Unlike larger corporations, SMEs may not face the same regulatory demands that encourage rigorous risk assessment and mitigation. However, they also lack the extensive resources that larger companies have to weather unforeseen disruptions. To navigate this delicate balance, SMEs can adopt three essential strategies: tailoring risk controls to the scale of potential risks, learning from both successes and failures, and leveraging risk management as a means to enhance and safeguard overall business performance.

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Olivia Mitchell