Forbes: The 10 Biggest Risks and Threats For Businesses in 2023
It doesn’t seem so long ago that we were considering risks to business in isolation. First it was the recession of 2009, then Brexit, then Covid trumped all.
But now, wherever we look, there are growing risks and threats to our businesses. Forbes have listed their Top 10 as follows:
- Data Breaches
- Climate Change
- The Great Resignation
- Obtaining Talent
- Pandemic (relating to that which has passed, hopefully not another one)
- Lack of Inventory
- Burnout
- Inflation
- Financial Crises
- Failure to Innovate
We could list countless more, some of which could fit under these headings…..energy prices, cost of living, strikes, war in Ukraine, leadership (as in country), the list goes on.
What are the main challenges to your business in 2023?
Members of the B4 community have come up with their own reasons, some of which overlap with Forbes, and here are 16:
- Becoming more systems organised without spending a fortune on cloud-based apps and services
- Capacity
- Client projects going on hold
- Energy (my own!)
- Finance costs and access to cost effective capital
- Get more ‘disciplined’ with myself, which will lead to better organisation, less stress and improved outcomes.
- How do I meet the demands of my paying (consulting) customers for more of my time when I am maxed out already.
- How to get my customer’s customers to make faster decisions that will benefit their businesses faster.
- Improving my engagement with social media to create a following with integrity that is well engaged with real people (not just high profile ones).
- Lead generation
- Market recognition
- Mental wellbeing of staff
- Payment lead times / terms
- Prospect indecisiveness
- Recruitment
- Working Capital
Starting this Friday we’ll be running a series of seminars from B4’s HQ where you and your teams can start benefiting from the expertise of our Members in the community to make your businesses more resilient to the challenges that you have little or no control over.
If you would like to host a future seminar, please get in touch with me at richard@b4-business.com
The next three coming up are as follows and you and your teams can register now:
| Handling Difficult conversations; how they impact on mental wellbeing at work | BOOK | 17th February, 9.45am |
| B4 Seminar hosted by Jonna Mundy, You HR ‘The benefits of and how to move to a 4-day working week’ | BOOK | 24th February, 9.45am |
| B4 Seminar by Kathryn Courtenay-Evans at B4 HQ ‘Leading and managing for wellbeing – the power of time to think….’ | BOOK | 3rd March, 10am |
More in Business Services
Unipart Company, Park Signalling, Secures £3M Network Rail Contract
Unipart company Park Signalling has kicked off 2025 with a significant achievement in the rail industry, securing a £3m contract with Network Rail. This major milestone reinforces Unipart’s reputation as a leading provider of cutting-edge technology solutions and its commitment to advancing the efficiency, safety, and sustainability of the UK’s rail network.
Aston & James Wins Dealer of the Year at National Industry...
The BOSS Federation National Industry Awards Since 1905 BOSS has been the authoritative body for the UK business supplies industry, supporting the sector and its people. It is a not-for-profit organisation that concentrates its efforts on playing a strategic role in the support, promotion and protection of the industry. BOSS represents all businesses along the […]
Pioneering US-based Canoo Inc’s versatile electric vehicle experience arrives at Bicester...
Canoo Inc, a US-based company which has created revolutionary multi-purpose platforms and digital ecosystems that are transforming the automotive industry for the entire vehicle lifecycle, has selected Bicester Motion, the 444-acre future mobility estate in Bicester, Oxfordshire, as its UK commercial operations and activation centre.
From this author
The Importance of Storytelling – How It Can Help Your Business
By sharing your business story thoughtfully, you show potential customers that you’re not just another company trying to sell something, but a trusted partner with a history and purpose. In a world of ‘fake news’ and scams, it’s important for every business to demonstrate its authenticity.
10 Reasons why Deeper Business Connections Help to Build Trust
Deeper business connections offer a range of significant benefits that can contribute to long-term success. Developing deeper connections in business is not just about transactional benefits but about creating a network of support that nurtures growth, collaboration, and resilience. At B4, we help businesses make connections and build relationships. Some of our Members have been with us for well over 15 years as being part of a trusted community of people and organisations that understand the value of trust is a crucial part of their network building strategy.
Raise’24 Demonstrates the Power of Collaboration and Team Effort
At Keble College on Friday 13th December, one hundred representatives of Oxfordshire’s business and charitable communities came together to celebrate months of incredible fundraising efforts and as they all stood at the threshold of the hugely impressive Great Hall, they had already raised well over £20,000. That total has now soared to £37,500 thanks to the generosity of well over 500 donors and the hard work of 33 fundraisers.