In a SWOT analysis, threats refer to external factors that may negatively affect a business or project. These factors are beyond the control of the business or project and can include things like changes in the industry, new market trends, natural disasters, technological changes, legislation, competition, supply-chain problems, shifts in market requirements, or a shortage of resources. Identifying threats is important because it allows businesses to develop strategies to minimize their impact and build resilience. By understanding potential threats, businesses can prepare for them and stay ahead of market trends.