Risk is a constant. And for businesses that want to thrive and grow in a time of economic uncertainty, they need to be proactive when it comes to risk.
However, they’re becoming more averse to risk, according to a report developed by BDO UK. The Global Risk Landscape Report 2025 surveyed 500 senior leaders from around the world, and more than two-thirds (69%) say their company is either risk averse or trying to minimize risk. That’s an increase from the 61% reported last year.
Businesses are taking a compliance-led approach to risk and ticking boxes, which distracts them from real risk management. However, they do realize this is an issue as 74% say embedding risk thinking in culture is a priority. This can create more opportunities and value.
For businesses that want to grow and meet their goals, they must be more proactive when taking risks. Canadian companies are traditionally more risk averse than their global counterparts, especially compared to those in the United Kingdom and the United States. This needs to change to achieve growth, but it may result in additional risks.
Businesses must ensure they’re not weighed down by box-ticking and improve their risk management strategies. Doing so will allow them to stay competitive and take advantage of the opportunities being created in the current economic and geopolitical environment.
