Small Business Consulting Canberra - Blog

The importance of risk & compliance management for small business

 10 Aug 2017   published by: Brad Shallies

Welcome to our first Ballara blog. If you are reading this you might have found us because you are looking for someone to help you with managing aspects of your business including risk, compliance, strategy and planning.

In this initial discussion, I wanted to tell you why I established Ballara. Having worked around business dynamics such as risk, compliance, strategy and planning for a long time, I was firmly of the view that:

Firstly, there are complexities however these are manageable. It is important to consider context – the context of your business. You need to ask the fundamental questions including the why, what, how and where.

Secondly, risk and compliance management, as example, is now an ‘industry’. That might work for the larger businesses; they are geared for significant overheads and have in house or access to specialist resources. That is not the case though for small business and not for profits. They either try to manage themselves or choose not to manage at all.

Those two issues are all of the motivation I needed to ‘do something’. I wanted to establish a business with a clear value proposition, based on low cost and accessible services, meaningful support based on a partnership approach, and simplicity.

You do not have to look far to see the devastating impacts of failures in risk and compliance management. The Global Financial Crisis (GFC) was directly attributable to failures in risk and compliance management, with some effects still being felt today. More recently, in fact in just the last few days, regulators have identified serious compliance failures in one of the big Australian banks.

I will use this blog to tell you about our products, to relay stories that illustrate the success of our approach, and to join you to industry news.

Thank you for finding us and thank you for reading our blog. Please spend some time looking around the site and, if we can assist, contact us.

Brad Shallies



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Connect with Founder & Managing Director of Ballara Business Consultancy Bradley Shallies