4 Main Types of Business Risks for Projects

4 Main Types of Business Risks for Projects



Business risks are risks that are inherent in the business itself. This may happen when a company assumes that it will spend money and also make money from an investment.


The main type of business risks are:



Businessman signing contract



This can include the risk of increased competition in the marketplace and a rival company developing superior products and services. 



These are risks that have to do with government legislation such as the risk of new laws or changes in regulations governing your product, goods or services that require your company to spend more to maintain compliance. 



These are risks that have to do with fiscal regulations. They include risks such as the risk of an increased price for raw materials, increased taxes, increased operating costs, and losses due to non-payment by customers. 



These are risks that have to do with day to day operation of the business such as the risk of frauds, employee injury, workplace accident and damage to equipment. 



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Adeniyi Salau PMP , CCNA R&S , CDMP, CEP, MOS, MCP, CSCU (Project 2016), Microsoft Certified Security and Networking Associate is a Google and Beingcert Certified Digital Marketer, Project Manager and SEO Expert of repute with about a decade of Blogging and online marketing experience. He is always ready to share his experience with others.

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