Is it true that there is risk in every business?

[uptrendfinancialsignal]

It is extremely true that risk is inherent aspect of each and every business that you want to go through. Regardless of the size and the industry of the business, risk are always involved and it is part and parcel of each and every businesses.

It is true that whenever you want to navigate the risk, it could be a very difficult thing for the entrepreneur because running a business is very challenging due to the risk that is involved. The business landscape is filled with lot of uncertainties and you should also be prepared for potential pitfalls that would pose huge risk to the business.

 

[Leah Kelvin]

Risk is inevitable in any trade. Risk is integrally associated with doing business. This can be economic, financial, operational, legal or technical; every single company experiences a range of risks that influence its operation, profitability as well as longevity. These may emanate from internal issues including bad management practices or inefficiencies in operations and external factors such as market changes, the regulatory environment and economic climate. So, businesses must be able to recognize, appraise and effectively deal with these risks so as to curtail their effects on their ventures in the future for long-term achievements.

 

[Johnson mpamah]

Business is taken risk with utmost caution. Risk takers are usually good business men . Every business no matter how small has it's risks embedded in it

 

[Mika]

All businesses are risky, however, some businesses have more risks compared to others. There are also multiple ways to minimize your risks. If you start a business on a niche that has high profitability and also something where you have expertise, you have high chances of becoming successful. If you also choose a business where there is higher demand but short supply, you also have higher chances of becoming successful. One of the best ways to minimize your business risks is by starting small and gradually upgrading.

 

[moonchild]

Yes, there's always some element of risk somewhere lurking it's head and a lot of people tend to think some business are risk free, how it is most times is the riskier a business is the more returns you can get from it and that's how it works, you have to align yourself to a business and learn about it, that's how you assess it's risk.

Most businesse can surely be risk free but are hardly rewarding, for example selling bottle water, it's basically risk free because everyone needs water but the problem is you can hardly get rich in such business due to low barrier of entry.

 

[Jasmine]

All businesses have some level of risks, the only difference is in their risk level, some businesses are less risky where as some businesses are highly risky. If you are dealing with essential items, your business is less risky, if you are dealing with luxury, your business is little more risky. If you do not have a marketing plan or marketing funds, no matter what kind of business you are operating, your business will always be under risk and you might even lose your money.

 

[Abigael]

Risks are a common factor in business, it is something that most people fear. This is because risks could lead to failure and financial loss. But you can calculate risks and set up measures to mitigate or reduce them.

Some risks happen due to nature while others are man made. Natural risks can be mitigated through emergency response planning. All risks require you to be aware of them or anticipate them so that you can plan on how to face them when they happen.