Risk & Uncertainty

• What is a major risk faced by entrepreneurs starting businesses?

  Risk of failure
• Why is starting a new company considered risky?

  Many entrepreneurs may fail in their attempt
• What is a consequence of failure for entrepreneurs?

  It can lead to financial loss
• What often requires a lot of investment when starting a business?

  Starting a new business
• What does lack of security mean for entrepreneurs?

  They lose regular wages or salary
• What happens if a business isn't making any profit?

  The entrepreneur may lack money to live off
• How is uncertainty defined in a business context?

  When a business can't know how a situation will turn out
• Why does uncertainty occur in businesses?

  Due to lack of sufficient information
• What event has caused uncertainty for businesses in the UK?

  Brexit
• How has Brexit affected businesses?

  Businesses don't know how they'll be affected
• How does uncertainty differ from risk?

  Uncertainty is inability to foresee problems
• What does risk involve in a business context?

  Chance that something could go wrong
• What is a challenge of uncertainty for businesses?

  It's hard to have expectations of the future