Many people believe that business financial risk is limited to the funds invested, especially with the protection of limited liability. However, in reality, there are many off-balance-sheet risks that businesses must manage.

These include:

• Duty of care: Ensuring the safety and well-being of employees, customers, and third parties.
• Product safety: Creating and selling products that meet safety standards.
• Usage responsibility: Making sure customers use products as intended, reducing liability for misuse.

Mitigating these risks is crucial to protecting your business beyond the numbers on the balance sheet.

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