Preventable Injuries at Small Businesses Are Piling Up

Here’s How Risk Management Can Help

A new report from Business Insurance sheds light on a growing concern in the small business world: nearly half of workplace injuries in the past year could have been prevented. According to the study, 75% of small businesses experienced a workplace incident, and 49% of those admitted they were forced to improvise safety measures due to lack of proper equipment.

Even more troubling, over 30% of small businesses reported spending more than $20,000 on injury-related costs. These preventable injuries are not just safety concerns—they’re serious financial liabilities.

Improvised Safety Measures = Big Risks

The fact that so many businesses are using makeshift solutions to protect workers is a sign of a deeper problem: a lack of proper risk management planning. When businesses don’t have the right tools or protocols in place, it increases the chance of something going wrong—and when it does, the costs can be steep.

This is where risk management plays a crucial role.

The Value of Risk Management for Small Businesses

Risk management is more than just having insurance. It’s about proactively identifying potential hazards, implementing policies to prevent them, and creating a culture of safety in the workplace. Here’s how a solid risk management strategy can help:

1. Prevents Costly Claims

By addressing hazards before they lead to injuries, businesses can significantly reduce the number and severity of claims. Fewer claims mean more affordable premiums over time and less financial disruption.

2. Protects Employees and Improves Morale

Employees feel safer and more valued in environments where safety is taken seriously. This can lead to higher morale, less turnover, and improved productivity.

3. Keeps You Compliant with Regulations

From OSHA to industry-specific standards, staying compliant helps avoid fines and legal issues. Risk management ensures you’re on top of these requirements.

4. Improves Insurability

Insurance carriers reward businesses with strong safety records and proactive risk practices. This can lead to better coverage options and lower premiums.

5. Builds a Culture of Responsibility

When risk management becomes part of your daily operations, everyone—from owners to new hires—knows safety is a priority. That can be a game changer in how your team functions.

Action Steps for Small Business Owners

If you’re a small business owner, here are some simple but powerful things you can do right now:

• Invest in the right equipment: Don’t cut corners. Make sure your team has the proper tools and gear for the job.
• Provide regular training: Ongoing safety training keeps employees informed and alert.
• Create a safety plan: Don’t wait until something happens. Establish clear protocols for common risks.
• Consult with a risk professional or insurance agent: An experienced advisor can help you spot exposures you may not have considered and guide you toward effective solutions.

Preventable injuries are more than just unfortunate events—they’re often the result of missing safety systems and lack of risk planning. But with the right risk management strategies in place, small businesses can reduce injuries, protect their people, and avoid serious financial setbacks.

Need help building a risk management plan for your business? Let’s connect. We specialize in helping businesses create safer environments—and more secure futures.