Hi Andrew:
It's actually one of the safest forms of aviation.
If the engine quits in the air, you just float back down to the ground nice and easy...and it's happened to me a few times.
Takeoffs are the riskiest part but I've botched PLENTY of them nut it usually means a grass stain and a bruised ego and if you're unlucky that day, a busted propeller....which I've experienced too.
Unlike free flight paraglider pilots who look for thermals, to avoid potential wing collapses, paramotorists (especially newbies like me) try to avoid them which is why we fly a few hours after sunrise or a few hours before sunset.
Of course you are flying so there is a lot to think about....weather, other flying things, power lines and so on but overall I feel safe doing it.
Cheers,
Michael