Forward. Compliance: How to make your business 100% compliant?
What's better than closing season 1 by discussing business compliance?
You started a business and thought it will be a nice and shiny journey :)
But then you realized there are so many rules and laws you should be compliant with! Sounds familiar?
The last thing that you want to deal with as a business owner, is lawsuits and going to court for lack of compliance or evidence to keep you compliant!
What's the connection between our host's hairdresser and helping you be 100% compliant?
In this episode we are discussing the following:
Shaked's (The host) New Haircut and what it has to do with compliance
What are the potential legal and financial risks for small-medium business owners who manage non-desk employees?
What are the industries that need to pay attention to the most
What tools do we have to make sure we are compliant
How to utilize these tools for that
According to a study by the Association of Certified Fraud Examiners (ACFE), organizations lose an average of 5% of their annual revenue due to fraud and compliance issues. This translates to an estimated loss of $3.5 trillion each year for businesses worldwide. Furthermore, the ACFE found that companies with strong compliance programs experienced a median loss of only $140,000, compared to companies with weak compliance programs who experienced a median loss of $1.13 million. These figures emphasize the importance of having a strong compliance program in place to protect your business from costly losses.
Helpful resources to help you out dealing with compliance:
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See you in season 2! :)
Have discussion topics? want to join us as a guest in the next season?
Drop us a message at shaked@connecteam.com