For some businesses, their biggest threats may come from changing government funding or regulations. It is vital to keep your finger on the pulse of what is happening within your industry and take active steps to plan for these so they have the smallest impact possible on your business. For example, in agriculture, adjustments in water allocations/availability or new rules about land clearing can be game changers. Changes in minimum wage or penalty rates can have major implications for a business' bottom line.
Changing political climates may also mean some businesses may want to reconsider their business model. For example, we were recently talking to a friend in the United States who works for a major environmental consulting firm. She was telling us that several years ago, the company she works for identified that almost 100% of their contracts were coming from government sources and they realised that this was a major threat to their business. They then started more actively pursuing work in the private sector. Given the Trump administration's major cuts in funding for environmental projects, they are glad that at the moment they only rely on such contracts for about half of their revenue as if they were still working almost entirely for government clients, they would likely be closing their doors in the near future.