Planting a new church is both exciting and demanding. As any new organization poses a set of liabilities, you must consider the risks associated with starting a church. While you navigate new church risk management, consider the following information as you develop your new church.
New Church Risk Management Defined
Risk management for churches consists of operations that new church leaders perform to safeguard a new ministry’s intangible and tangible assets. Usually, risk management seeks to identify and manage any liabilities or risks that may threaten assets.
In short, tangible assets include anything associated with your church that is physical. Church buildings and cash are examples of tangible assets. On the contrary, intangible assets are not material objects. Rather, a church’s public image and marketing are examples of intangible assets.
Common Liabilities Associated With New Churches
Typically, common risks and liabilities associated with new churches involve finances, property damage, and bodily injury. For example, you will want to consider managing the risks involving:
- Employee payroll
- Accident prevention
- Church security
While these areas are a good place to start, contacting an expert will point to other risks you may face while planting your church.
Planting a new church is stressful. However, the process is also impressive and inspiring. Understanding the basics of risk management for your new church will help you feel more confident as you officially establish your ministry.