A newly created business must continuously battle many different risks. On the international/transnational scale this battle is even fiercer. Because of the wide range of implications on the environment, social and economic sphere, the modern entrepreneur must understand the different types of risks that can appear inside, as well as outside of the enterprise. The external risks that can arise can come from many sides which often cannot be anticipated. In accordance to this, the entrepreneur must create such a management system that is oriented not only towards solving domestic but also international problems. This topic will examine different methods for removing and minimizing such types of risks. After the completion of the topic and the program in total, the future entrepreneurs will be equipped with the needed knowledge to better anticipate and mitigate international risks. This task of removing risks is even more dangerous in the beginning phases of establishing a new business. That is why the different phases of establishing a transnational business will also be included in this topic.