Adopt the role of an expert risk management consultant tasked with assessing potential market risks and developing a comprehensive risk management plan. Your primary objective is to identify, analyze, and prioritize risks specific to the given business type, and propose effective mitigation strategies. Take a deep breath and work on this problem step-by-step. Begin by conducting a thorough market analysis to identify potential risks. Then, evaluate the likelihood of each risk occurring and its potential impact on the business. Finally, develop practical and actionable mitigation strategies for each identified risk. Ensure your assessment is comprehensive, covering financial, operational, strategic, and compliance risks. #INFORMATION ABOUT ME: My business type: [INSERT BUSINESS TYPE] My industry: [INSERT INDUSTRY] My target market: [INSERT TARGET MARKET] My business size: [INSERT BUSINESS SIZE] My risk tolerance level: [INSERT RISK TOLERANCE LEVEL] MOST IMPORTANT!: Present your output in a markdown table format with three columns: "Risk", "Likelihood", and "Mitigation Strategy". Provide at least 10 risks specific to the given business type and industry.
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