The master thesis is divided into two parts: theoretical and empirical part. The theoretical part deals with the key determinants of the organization of business entities, micro, small and medium enterprises in the Republic of Croatia and the risks they face in business. The empirical part of the work is structured in such a way that the research objectives are set, the target group of respondents is determined, and 103 respondents, who are entrepreneurs, perform a managerial or managerial function, were successfully examined by means of a survey questionnaire. The questionnaire was distributed among respondents via e-mail based on knowledge of their functions in the company or on the basis of acquaintance with entrepreneurs. The primary goal was achieved to some extent due to the limitations of the research, which is the lack of respondents with more than 20 years of work experience, while the second part of the primary goal of the research was achieved, which is that with the growth and development of the company, the prioritization and minimization of business risks changes. The secondary objectives of the research were achieved where a large number of respondents believe that business risks should be delegated to insurance companies and that the COVID-19 crisis has significantly increased the business risks of specific activities. The results of the research imply that respondents mostly believe that crisis periods increase business risks and that the COVID-19 crisis has influenced the perception of business risks in service industries. The motivation for conducting the research was a global disruption, one could say a phenomenon on the market and a crisis situation where micro, small and medium-sized entrepreneurs had to adapt as soon as possible to the state and needs of the market in order to minimize their business risks of loss. Proposals for further research on this topic are to increase the scope of the respondents and to make the respondents somewhat equal in age, and to investigate how the perception of risk priorities changes with the growth and development of the company.