Region’s firms more willing to take risks

The research, which was conducted among 400 businesses across the UK, found that the majority of companies quizzed in Yorkshire are taking risks that they wouldn’t have taken two years ago, in order to win new business.

This increased tolerance of risk in the region reflects an 
overall shift in attitudes 
which is taking place across the UK.

Altogether, 54 per cent of the 400 businesses surveyed said they had an increased acceptance of risk.

However, the increased level of risk-taking in Yorkshire is accompanied by a relatively low level of risk management, according to QBE.

Twenty-two per cent of the 
businesses who were surveyed in the region admitted that their risk management performance over the last two to three years was “as much by chance as by judgement or design”.

David Kelly, the commercial manager for QBE, said yesterday: “There is always a degree of risk involved in doing business.

“However, our research shows that economic circumstances are forcing businesses in Yorkshire to expose themselves to higher levels of risk at a time when their risk controls are not being robustly managed.

“While fortune can favour the bold, businesses should be considering how to manage these increased levels of risk. I would urge local companies to consult with their insurer to explore ways of mitigating the potential impact of these increased exposures.”

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