Starting a business is an exciting journey for any entrepreneur. You get to invest in your dream and work for yourself rather than for others. Unfortunately, over 50% of startups fail. Poor risk planning is one of the top reasons why these companies don't make it past the 4-year mark.
There are many risks that startups face. These include data security risks, marketplace risks, investment risks, and competitive risks. So how can your business navigate the treacherous waters and become viable over a long period? Risk management is the answer.
Risk mitigation measures are essential for startups. Take a look at how risk management could help your business to achieve a long-term validity.