Fiscal crises and a potential asset bubble are the joint greatest dangers facing UK businesses this year, according to survey of executives by the World Economic Forum (WEF).
This is thought to reflect high stock markets and debt levels, combined with fragile economic growth and uncertainty surrounding the country's decision to leave the EU.
Large cyber attacks were cited as the third biggest risk after a number of high profile cases this year, such as when cybercriminals seized the personal details of 250,000 Wonga Customers in May.
The research was published today in WEF's annual Global Risks Report, in collaboration with strategic partners Marsh & McLennan Companies, and Zurich Insurance Group.
"It's more important than ever that businesses have clear risk management strategies to help them withstand unforeseen consequences and build greater resilience," Zurich commercial insurance risk officer, John Scott, said.
The study involved surveying 12,411 executives across 136 nations, asking respondents to identify the five biggest risks to doing business in their respective countries.
The top 10 risks for businesses globally in 2017 are shown below:
The results mark a significant change from previous years, with noneconomic risks featuring more prominently.
This is reflected in failures of national governments featuring in the top three threats, with business leaders signaling a rising concern about geopolitical changes.
"Today we operate in a complicated macro-economic and geopolitical environment with a huge degree of uncertainty and constant change," Scott continued.
"It seems while business leaders are aware in the medium-term of social and economic risks to their businesses, they are perhaps underestimating the potential impact of environmental and technological risks.
"There is an opportunity for insurers to help businesses address this in the future."
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