As times moves on, businesses and industries grow, adapt, and evolve. The only issue is that alongside these changes, the problems that face a lot of organisations grow, adapt, and evolve at an equal rate. As such, it’s important that business owners stay on top of some of the different problems that their organisation could well face in the next year or so. If you’re a business owner and want to stay ahead of the competition in 2023 by increasing your understanding of what some of the prominent risks are, then you’re in the right place as these will be discussed in more detail below.
The Ongoing Energy Crisis
This is a news story that has been hard to stay away from, and for good reason, given the detrimental impact that it has had across the country businesses and households across the country. As the war continues in Ukraine, access to energy is harder to come by and with this increased demand, there has been an equal increase in the cost of energy. Households have had caps applied on their energy rates but businesses don’t benefit from this, which means that organisations have been seeing their energy prices rise to more than 200% in recent years. Small companies would benefit from checking out Digital Energy by 5 for small businesses in order to reduce their operating costs as much as possible and stay on top of the energy crisis.
Increased Cyber Security Risks
There are a number of different online threats that impact businesses and prospective customers alike that organisations need to stay on top of to make sure that people feel comfortable making a purchase with them. Given that the majority of marketing and sales now happen over the internet, having a safe connection and ensuring your customers feel safe parting with their money should be at the forefront of every business owners’ mind.
That said, this can be very difficult to do given the nature of cyber-attacks is forever changing. It’s important that organisations stay on top of the common methods being used by cybercriminalsin order to obtain data and exploit security. On top of this, businesses need to convey their dedication to safety to their customers, as if someone doesn’t feel safe using a website or reassured by a company’s position on cybersecurity, they’ll simply use anotherone.
Climate Change Risk
Climate events are becoming more and more frequent, such as extreme rainfall, increased heat, and hurricanes. This can have a massive impact on businesses with physical locations and also staff travelling to work in operational industries. This means that businesses need to put measures in place that can mitigate the overall risk involved when it comes to climate events that might not have occurred a few decades ago. Business owners should familiarise themselves with their area and understand the biggest risks to this area, putting in place restrictions and measures for their business should the worst happen.
