Back in 2018, I embarked on MBA research seeking to understand how well non-financial risks were understood and the role of ‘moral hazard' in relation to local authority commercial strategies.

It is interesting now to revisit the research in light of the widely publicised ‘commercialisation gone wrong' cases with a view to presenting scenarios some may not realise are risky by their nature and with a nod to what questions should be asked to help ensure governance arrangements are as robust as possible.