Business risks can be categorized broadly into several types:
1. Financial Risks: These involve potential financial losses due to market fluctuations, credit issues, or liquidity problems. 2. Operational Risks: These include risks arising from internal processes, systems, or external events that disrupt operations. 3. Strategic Risks: These are related to high-level business decisions that affect the company's direction and success. 4. Compliance Risks: These involve adhering to laws, regulations, and standards that impact the business. 5. Reputational Risks: These are risks that could damage the company’s brand and public perception.