Entrepreneurial risks in cross-border trade and business: challenges and solutions

The article examines business risks in cross-border economic relations. In the context of globalization of world economic relations and the development of Internet technologies, the borders of states have dissolved, and economic relations between them have changed. In the new conditions, entrepreneurship has become more accessible, but new problems have arisen due to political and economic instability, accompanied by new risks. The article examines the challenges to international entrepreneurship generated by globalization and the Internet, and proposes solutions that minimize business risks in cross-border economic relations. The risk of loss of intellectual property is associated with the loss of copyrights, patents or illegally used brand, trademark and their use by third parties without the permission of the owner. In fact, this is the theft of someone else’s property. The consequences of this theft are either not resolved at all, because for the most part they cannot be legally justified by foreign entrepreneurs, which requires entrepreneurs to insure against threats of loss of copyrights, patents, brands, etc. Commercial risk arises in the case of an ill-calculated approach in choosing business strategies and procedures or in trading. This, as a rule, leads to imminent bankruptcy, or the loss of a trading partner and even the curtailment of business activities. The list of reasons for commercial risk can also include the inability to choose business partners, a frivolous attitude to interpreting the meaning of business agreements due to national differences between partners in the foreign economic environment.agreements due to national differences between partners in the foreign economic environment.