Limited technological resources

Insufficient data capital

Lack of data to conduct order-level risk evaluations

Low collateral level

Vulnerability to market conditions

Weaknesses in technological, managerial, and human capacities

Limited financial resources

Limited operating market

Limited organisational resources

Weaknesses in managerial, and human capacities

Challenges to adapt to technological development

Deficiencies in effective RM practices

Lack of risk management culture

Lack of shared vision, values, and goals to shape the RM approach

Risks in the social environment (organisational culture)

Lack of resources and reliable mechanisms to support RM activities

Lack of long-term planning on investments

Weak financial performance and overall profitability

Inappropriate employee behaviour as a source of business risk

Psychosocial risks associated with increasing digitalisation at work

Long order processing time

Quality defects of products

Lack of knowledge on how to integrate AI into digital transformation strategies to enhance dynamic capabilities

Limited technological resources

Lack of financial resources

Lack of economies of scale

SMEs’ potentially higher transaction costs as compared to larger companies

Challenges related to market access

Geographical isolation

Technological practicability

Technological suitability

Gaps in anti-corruption activities

Human-rights deficiencies

Gaps in product and service responsibility

Gaps in regulation compliance

Gaps in waste and emission management

Innovation gaps as a source of business risk

Poor availability of financial resources (grants, loans)

Lack economies of scale

Risks associated with customer complaints

Outdated production facilities

Limited utilisation of production capacity

Difficulties in business financing or lack of funds

Lack of competitive advantage

Lack of consistent BCM strategies

Increased pressure on working time

Weakened face-to-face communication

Credit risks or inability to fulfil financial obligations

Payment difficulties leading to insolvency

Occupational safety risks

Lack of domestic and international networks

Hazardous or outdated equipment

Risks associated with product quality

Technical, human resource and management factors that affects performance

Network risks associated with gaps in trust and information sharing

Network risks associated with gaps in trust and information sharing

Challenges to adapt to technological development

Limited organisational resources

Inability to execute RM strategies