Risk is the feasibility of harm or loss to a business, and management of risk is a crucial factor that should be taken care of in order to prevent loss or harm to your business. No business owner would like to face any loss to their business. In any business venture, owner and shareholder bound to face a different kind of risks, some of them can easily be handled and some cannot and process of deciding which risk have to manage with which practice is called risk management. Risk management is a process of identifying, analyzing, evaluating and treating risks. In any case, since organizations are looked with a wide range of sorts of risks, risk management specializations have additionally been made to manage them. There are many kinds of risks that a business owner might face in different stages of the business cycle. But widely, risks are classified into 3 categories in the corporate world which are Business Risk, Non- Business risks and financial risks. Business risks