Risk Management a Low Priority for Small Business Owners, Travelers Survey Finds
HARTFORD, Conn., Jun 08, 2010 (BUSINESS WIRE) -- Risk management ranks relatively low among the many priorities facing small business owners, is the finding of a new survey conducted by Travelers.
The survey, conducted at America's Small Business Summit 2010, held May 17-19, 2010 in Washington, D.C., also found that nearly half of small businesses are operating without a Business Continuity Plan. Travelers is a corporate sponsor of the Summit, hosted by the U.S. Chamber of Commerce.
"Small business ownership, while potentially very rewarding, also carries with it great risks," said Marc Schmittlein, President and Chief Executive Officer, Travelers Select Accounts. "Owners largely focus their efforts on growing their business and, too often, they overlook risks that could stunt that growth and/or even shut their doors for business permanently. The most successful owners are those that balance their pursuit of growth with a prudent approach to risk management."
