For some, it might be hard to remember what issues were top-of-mind for businesses and employees before COVID-19. The pandemic has created problems for businesses across all markets and in many different capacities. From internal struggles, like managing a remote workforce or cyber threats, to hindered business operations, like supply chain disruption, lost sales, halted cash flow and more, the pandemic's impact on businesses will continue to be widely felt for some time to come. Other major, routine threats haven't gone away either. Businesses and municipalities still must confront cyber risks, extreme weather events, financial considerations and more, regardless of the pandemic. A new report from the World Economic Forum (WEF), made in partnership with Zurich Insurance Group and Marsh & McLennan Companies, surveyed 12,000 business executives around the world, who chose from a list of 30 global risks "the 5 global risks that you believe to be of most concern for doing business in your country within the next 10 years." |

Business risks around the world

While the top risks identified by the WEF study mostly relate to economics, climate-related risks are also causing greater concern in 2020. Across the board, natural catastrophes (up seven places), extreme weather events (up five), biodiversity loss and ecosystem collapse (up eight), and failure of climate-change adaptation (up two), all gained higher priority in 2020. Other significant changes, Zurich notes, include human-made environmental catastrophes (down six), failure of urban planning (down seven), and terrorist attacks (down nine). "The employment disruptions caused by the pandemic, rising automation and the transition to greener economies are fundamentally changing labor markets. As we emerge from the crisis, leaders have a remarkable opportunity to create new jobs, support living wages, and reimagine social safety nets to adequately meet the challenges in the labor markets of tomorrow," Saadia Zahidi, Managing Director at the World Economic Forum, said in a statement. Peter Giger, group chief risk officer, Zurich Insurance Group, added, "COVID-19 is distracting us from certain long-term risks that will be around long after the current crisis is resolved. But the pandemic is also having the positive effect of leading many to reassess priorities. This, I hope, will ensure that businesses advance their risk resilience strategies and result in decisive and impactful action to combat existential risks like climate change." Narrowing the issues down by region, researchers compiled lists of the top 5 risks in the U.S., as well as the top 5 risks in Canada in 2020, juxtaposed by both nations' top risks in 2019. To see just how much things have changed, in the slideshow above, discover the top 5 business risks in the U.S. in 2020 and in 2019, along with the top 5 risks in Canada this year and last. Related: |

• Global political risk: Top threats and most at-risk countries in 2020
• What has COVID-19 taught us about cybersecurity?
• Financial institutions a top target for COVID-era cyberattacks