ENTREPRENEURSHIP

Detailed explanation-1: -A company can reduce internal risks by hedging the exposure to these three risk types. For example, companies can obtain credit insurance for their accounts receivable through commercial insurers, providing protection against customers not paying their bills.

Detailed explanation-2: -One of the key documents used to minimise risk in a business plan is a cash flow forecast . This is a prediction of the money a business might have coming in or going out over a period of time. By completing a cash flow forecast, an entrepreneur will see if there are any times of the year when they may lose money.

Detailed explanation-3: -Prioritize. Buy Insurance. Limit Liability. Implement a Quality Assurance Program. Limit High-Risk Customers. Control Growth. Appoint a Risk Management Team.

Detailed explanation-4: -Prevention. Activities and measures to avoid existing and new disaster risks (often less costly than disaster relief and response). Mitigation. Transfer. Preparedness. Risk identification. Risk reduction. Preparedness. Financial protection. More items

Detailed explanation-5: -carrying out market research to find out what customers want. writing a business plan to identify potential problems. ensuring that there is sufficient money available.