Contemporary business conditions are characterized by increased dynamics and complexity of the environment, globalization of business, increased competition and heightened uncertainty. In order to maintain its market position or even take a step ahead, companies must pay special attention to analysis and risk management. Effective risk management system is one of the most important preventive and proactive instruments that provide early and systematic insights to the company, to be able to identify opportunities and react to changes. The risks arising from the external environment today, are significant risks amongs other risk categories and represent a growing threat to the survival of the company. The analysis of the political, economic, social and technological environment, and changes that occur within them, is necessary for the survival and growth of the company. In this paper we analyzed the categories of external risks in terms of contemporary global business and current trends that pose a threat to businesses. The comparison of selected relevant reports on the risks seeks to point out the most prominent manifestations of external risks and their impact on businesses.