Risk forms an integral part of every business. Its occurrence is possible throughout the whole business process. Therefore, a risk has a significant impact on successful business operations, yet also on the company's survival in general. Although there is no unique definition of risk, economic experts generally agree that the mentioned term indicates danger, contains potentially unwished consequences and it is ubiquitous in whole society. Furthermore, risk may occur at any time. Thus, one of the main features of risk is unpredictability and diversity, as well. This leads to the conclusion that risks are almost impossible to be avoided. Accordingly, every business company needs to develop an adequate risk management system for better prediction, reduction or complete elimination of risks. While studying the definitions of risks and the risk management system, it has been realized that these elements are one of the main foundations for a successful business activity of every company in general. In order to be able to confirm the mentioned theoretical assumptions on a specific example and to understand the functioning of risk management in the company’s environment, the author has decided to make a study on how the risk management system has been carried out by a small company that does seasonal businesses. In the interview held with the owner of the small company called “SPORTNINA”, the author of this thesis determined the profile of the selected company and noted down the scope of their business activities. Afterwards, the author analysed the potential risks that may occur in line with the scope of their business and tried to propose the best guidance on how the company could implement risk management in its work, in order to successfully subsist at the economic market. The obtained results have helped the author to understand the nature of risks and how the company could deal with them, not only within the theoretic pages but also on the concrete example from the business world. Therefore, the author has realized that the risk does not necessarily have a negative context for the company, meaning that successful risk management could be a potential opportunity for company’s progress at all levels of its business activities.