What are the basic characteristics of possible risk?
The basic characteristics of risk are the following: Your entrepreneurial work will be too easy if it is easy to predict possible risks for your company.
You and your small business members will act on them, and all risk elements will be reviewed in a specified period.
Now you need to transfer the process of risk management into a specific title of your business plan.
So, the risk is partially unknown because it will possibly appear in the future, not now.
Because your businesses operate in a highly dynamic environment, you cannot expect that it will be something like the default.
If you have appropriate risk management process installed into your small business, you can easily predict the risk.
You can always focus your resources on eliminating or reducing risk in the areas where it is expected to appear.
You can always plan and predict future things in a certain way that will happen, but your impact is not always in your hands.
There are many external factors when it comes to the business world.