The paper examines business risk assessment systems such as traditional credit analysis and risk assessment models, with a special focus on the application of the Deakin model. Risk assessment systems encompass the methods financial institutions use to evaluate the probability of borrowers defaulting on their obligations. Traditional credit analysis involves assessing a company's current financial condition, financial indicators, credit history and external factors that may affect the company's ability to repay debt. This type of analysis also includes the evaluation of a company's business activities and management, business and organizational structure, market analysis, sales, employee and supplier structure, among other aspects. Risk assessment models, such as Altman's Z-score, Beaver's, Deakin's, and Edmister's models, quantify risk using historical data and statistical methods. The Deakin model utilizies specific financial indicators to evaluate a company's financial health. In this study, the Deakin model was applied to a sample of 466 small and medium-sized enterprises categorized into 11 industry groups according to the National Classification of Activities. The objective of the study was to determine if there are differences in risk across various industry groups. The observed activities exhibit diverse characteristics and are subject to unique challenges and potential threats, which can significantly influence their financial stability and risk profile. The results obtained using the Deakin model did not successfully identify differences in risk among the industry groups. The analysis concluded that although the Deakin model did not yield results in identifying differences in risk between the industries, financial indicators provide a better understanding and evaluation of individual risks across different industries.