Identifying long-term risks in business is crucial for strategic planning and sustainability. Here are steps to help you identify these risks:

1. Conduct a SWOT Analysis: Start by analyzing your business's Strengths, Weaknesses, Opportunities, and Threats (SWOT). This provides an overview of both internal and external factors affecting your business.

2. Market Research: Continuously monitor your industry and market trends. Understanding shifts in customer preferences, technological advancements, and market competition can help identify long-term risks.

3. Scenario Planning: Develop scenarios of potential long-term risks. Consider various economic, political, environmental, and social scenarios that could impact your business.

4. Regulatory and Compliance Changes: Stay informed about changes in regulations and compliance standards that may affect your industry. Non-compliance can lead to long-term legal and financial risks.

5. Economic Factors: Keep an eye on economic indicators like inflation rates, interest rates, and unemployment. Economic downturns can have long-term effects on business viability.

6. Technology Trends: Evaluate how evolving technologies can disrupt your industry. Consider the impact of automation, artificial intelligence, and other innovations on your business model.

7. Environmental and Sustainability Concerns: Address potential long-term risks related to environmental regulations and consumer demand for sustainable practices. Climate change can also pose risks to certain industries.

8. Competitive Analysis: Continually assess your competitors. New entrants or shifts in the competitive landscape can pose long-term threats to your market share.

9. Supplier and Partner Risks: Evaluate the stability and reliability of your suppliers and partners. Dependence on a single supplier or partner can be risky in the long term.

10. Financial Health: Regularly review your financial statements and ratios. High debt levels, declining profitability, or cash flow issues can indicate long-term financial risks.

11. Customer Relationship Management: Monitor customer satisfaction and loyalty. A decline in customer trust can lead to a long-term loss of revenue.

12. Cybersecurity: In an increasingly digital world, cyber threats can have long-term consequences. Invest in robust cybersecurity measures to protect sensitive data.

13. Global Factors: If your business operates internationally, consider geopolitical risks, currency fluctuations, and trade policy changes.

14. Supply Chain Vulnerabilities: Identify vulnerabilities in your supply chain, such as dependence on a single source for critical materials. Disruptions in the supply chain can have lasting impacts.

15. Social and Demographic Trends: Changes in demographics, consumer behavior, and social attitudes can influence long-term business risks.

16. Employee Engagement: High turnover rates, low morale, or skills shortages can affect your ability to operate effectively in the long term.

17. Natural Disasters and Pandemics: Assess the potential impact of natural disasters, health crises, and pandemics on your business continuity.

18. Legal and Litigation Risks: Evaluate potential legal risks and monitor any ongoing or emerging litigation that may affect your business.

N/B Mitigation strategies should also be developed to address identified risks and minimize their potential impact on your business.