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Risk Management on the Menu at the Dorset County Show Around fifty landowners, farmers and rural business owners joined a panel of specialists for the inaugural CLA / Porter Dodson breakfast at this year's Dorset County Show. The theme of the event, which took place in the President's section of the members' marquee, was managing risk within businesses. Following a cooked breakfast of locally sourced products, James Weld, Vice Chair of Dorset CLA and owner / manager of the thriving Lulworth Estate, introduced the topic by discussing how risk is managed across the Estate's diverse business interests.
Robert Fox from Porter Dodson joined James on the panel and outlined some simple, practical measures business owners should consider implementing in order to mitigate risks – including producing health and safety manuals for foreign workers in their own language, checking the insurance credentials of contractors coming on to land and property and maintaining warning signs on footpaths.
Graham Poulton from Clydesdale Bank highlighted the importance of working with advisers in order to take control of the factors that business owners are in a position to influence. He emphasised how vital access to comprehensive financial information is, in order to back up any plans for growth or diversification.
This message was echoed by Andrew Dyke from rural consultancy The Pineapple Group who identified two key things for "derisking" within a business – good accounts and regular reviews in order to establish the current position of the business and its future direction.
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