Why Managing Governance and Risk is Just as Important for SMEs

What is governance and risk management?

Why is governance and risk management so essential for SMEs?

What is the difference between ESG and GRC?

  • ESG (environmental, social, and governance factors) covers a wide spectrum of issues that traditionally are not part of financial analysis, yet have financial relevance, such as health and safety, water management, supply ethics, etc. ESG helps companies manage costs and identify their specific impact within sustainability. This is ethically important and as investors globally (according to PWC, 83% of investors believe higher ESG management will improve returns or reduce risk) seek this information in establishing corporate responsibility.
  • GRC (governance, risk management, and compliance factors) covers direct impact to the bottom line, such as rules, practices, legal compliance, and financial risk.

Our top three governance and risk management tips for SMES.

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