We know that the very nature of small business
management means that decision makers are working
with few resources and often moving from one
fire to the next, so setting aside the time to take
stock of fraud risks and develop a fraud risk management
plan is hard. Nevertheless, small business
leaders should view the development of a fraud risk
management plan as an important investment in the
business’s future. Leaders should adopt a mindset
that fraud risk management is not just a challenge
but also an opportunity. Small business leaders that
foster a work environment full of purpose, account-
ability, and honesty can not only reduce their risk of fraud but also build high-performing, resilient organizations.
Even with limited financial resources,
small businesses can improve their efforts to prevent
and detect fraud, and in doing so, unleash the
full potential of their businesses.