Unexpected Risks for International Businesses

Abstract

Exploratory research in Colombian companies that venture into international business with the objective of identifying the main unexpected risks that they may face from the constant changes in legal controls, the foreign exchange market, the uncertain global perspective and describing the way in which these aspects can threaten the success of their business plans. The methodology was mixed: qualitative with a descriptive approach and quantitative in order to better understand the object of study. The primary sources were companies registered in the National Administrative Department of Statistics (DANE), and the Chamber of Commerce of Bogotá, considering privacy and data protection. The secondary sources were different authorized publications related to the subject. The sample consisted of 338 companies oriented to international business to which the form created through the Google workspace platform was sent, indicating the objective of the research and requesting consent to answer it. Among the results, it was established that many entrepreneurs apply traditional strategies in their business plans, considering only natural risks as unexpected risks and trusting in the support of foreign governments, insurance and good faith, without considering other serious situations that can make their ventures fail. The conclusions focus on seeking advice from Chambers of Commerce or Ministries of Commerce whose experience and knowledge can anticipate or detect unexpected risks. It is also necessary to stay alert to situations represented by wars, international disturbances, political changes or legal controls arising from technological advances capable of affecting the foreign exchange market, transportation systems, import and export logistics, ruining any business plan designed with dedication and knowledge.