what are the Potential Risks in Starting A Business?
- Thread starter Reedex
- Start date
You should know that the Market risk is another big threat. In actuality, You may think your product or service is great, but if there's no demand, you'll struggle to succeed in that business.
In any business there are external factors over which we have no control. For example if you start a poultry business a disease can kill your chicken.
One big risk that is associated with starting a business is that you might not get patronage. It is a risk. What if people don't patronize your products or services? You have automatically failed.
Another risk of starting a business aside from loosing capital is loosing your passion for the said business, that's one of the worse thing that can happen to a business owner.
Embarking on a business venture entails many risks. Factors such as location and competition can greatly impact the success of your business. As a result, you may lose the capital invested in starting the business.
One of the risks in starting a business is that you might not get anyone to patronize your business for long periods after the business is set up.
