This paper includes an overview of the risks that may arise in international business and factors that influence on their occurrence. Business risks are divided into internal and external risks. Internal risks include strategic risks, management risks, operational risks and financial risks. External risks are related to market risks, political, social and legal risks, and the risks of natural disasters. For each of these risks there is an individual chapter which provides more detailed analysis of all risks they involved. Significant factors that may also affect on risk occurrence are human factor, cultural differences and the variability of exchange rates. Very important factor that contributes to prevention of occurrence of the risks is system of risk management. Three phases build these system: phase of risk identification, phase of estimation and risk assessment and phase of risk control. There are different ways of protection against risks, such as self-insurance, hedging or risk disclosure before its occurrence. It would be desirable to determine the probability of forming of the risk before its occurrence and thus, prevent the occurrence of the crisis and the consequences that would arise with its occurrence.