7 Types of Risks Every Entrepreneur Must Battle

3) Economical Risk : This risk includes the changes in the cycle that includes periods of high prosperity (boom) and recession. These cannot be predicted correctly and must be taken into account at the planning stage.

4) Financial Risk: This type of risk arises when your business runs out of the finance. So to avoid this type of risk one should have a good sense in order to run the business successfully.

5) Strategic Risk : Strategic risk is the risk of a strategy failing due to one reason or another. Future is uncertain and cannot be predicted correctly. So your pre strategies cannot work every time.

Entrepreneurs need to have a good foresight so that they can plan properly