Answer: Financial risk is probably the most common type of risk that new business owners face. So approach it head-on. Reduce your risk from the outset by setting up proper financial records, minimizing any outstanding debts like credit card debt, and keeping any outside loans and other financing arrangements to a minimum.
General liability is the risk that the business owner will be responsible for accidents or negligence while doing business. If someone is hurt on your property, you could be liable. Property Damage When you are a small business owner, you will have to deal with the risk that your property could be damaged at some point.