The topic of this final paper is "Entrepreneurship and Risk". The introductory part of the paper consists of topics related to the basic determinants of entrepreneurship, such as the concept of entrepreneurship, how it has developed throughout its history, how individual authors have experienced it in relation to today and its types. In addition to the types of entrepreneurships, weaknesses and threats in small, micro and medium enterprises and what is important for their survival in the market are also listed. As it is inevitable to encounter various types of risks during the business of any type of company, it is necessary to develop a plan to feel them as little as possible. For this reason, the main part of the paper describes the meaning of the general concept of risk and business risk, its types and measures for measuring business risk today, because for the overall success, sustainability of the company and the life of the entrepreneurial venture, it is necessary to analyze and establish management measures. risk. The research part of the paper is based on the challenges and risks in modern entrepreneurship and the main opportunities and threats for small and medium enterprises given the impact of the COVID-19 crisis and the consequences it brings or has already brought. The main purpose of this paper was to get acquainted with modern entrepreneurship and business risks that may threaten it and how to best identify them. In the end, it is concluded that there is no escaping the risk no matter how hard you try because the whole system includes a lot of items and higher forces that the human hand cannot influence, but can know or master how to detect and control them in time. with the help of certain methods that are available today.