The Development of a Small and Medium-Sized Business Risk Management Intervention Tool

Risk is inevitable in business. For large companies, risk management formalised and structured through compliance with industry standards. However, small medium-sized businesses (SMEs) rarely have adequate resources to develop their own standards or conform pre-established criteria. This results an increased vulnerability risk, which tends undermine SMEs’ sustainability. The primary reasons for the low adoption rate of are related tremendous initial difficulty orientating business concerning significant investment workforce developing implementing a managerial process. objective this paper produce guided process tool they can identify, evaluate, appropriately address risks from SME perspective. Moreover, intervention would offer enhancements at no cost beyond time its implementation. In order identify what constitutes holistic management, document analysis was applied, utilised standards, academic articles, books, regulatory policy strategy documentation. identified elements were integrated that improves owners’ capacity position themselves context daily challenges.