It is important that every business owner knows how to protect the company, staff, inventory, equipment, office, customers and anything or anyone attached to the business. In today’s day and age, there are many different threats and dangers to a business so it is vital that you are aware of what these are and how you can take steps to protect the business. When you protect the business, it will allow you to avoid potentially devastating problems and work with confidence each day. Read on to find out the best ways that you can protect your company in 2020 and beyond.
Form An Entity
First, you need to make sure that you have chosen a structure for your business. This is important for keeping your personal and business assets separate so that you will not suffer personally in any kind of issue or dispute.
The biggest threat to businesses in today’s digital age is cybercrime. Cybercriminals are consistently developing new threats that have the potential to destroy a business and wreak havoc in many different ways. This means that this needs to be a priority area, but the good news is that there are excellent cybersecurity products that can be used to protect your company and data, including:
- Antivirus software
- A VPN
Cybersecurity Policy & Training
Having the right products in place is important and is the first line of defense, but you must also educate your staff and create a cybersecurity policy which outlines expected behavior. Employee negligence is one of the primary reasons that cybercriminals are successful, so you must train your staff on how to stay safe and avoid common threats. This will include:
- Using strong, random passwords
- Two-factor authentication
- Using different passwords for different accounts
- Not sharing sensitive data online or over an unsecured network
- Avoiding suspicious links and emails
- Backing up data to an external device
Bolster Physical Security
Of course, it is not just digital crime which is an issue, and you must not overlook the importance of physical security. Since businesses are often vacant overnight and can contain expensive equipment and/or cash onsite, they are often targeted by criminals. There are many highly effective ways to bolster your physical security, such as:
- CCTV cameras
- Intruder alarms
- Video doorbell
- Keycode entry
- Smart locks
- Security windows
- Perimeter fences
- Security guards
- Using a safe
Fire is, of course, another major threat to businesses but also one which can cost lives. This is why it is another priority area, so you need to have smoke detectors throughout the building, have easy access to extinguishers and fire blankets and have an evacuation plan in place. You should also carry out a fire drill twice a year and make sure that new employees are educated on what they are supposed to do in case of a fire when they start.
Find A Suitable Law Firm
Hopefully, you will never encounter any legal issues of any kind, but these problems can occur in the business world. It is helpful to have the contact details of an experienced law firm which you have researched ahead of time so that you can act swiftly if you encounter any kind of legal issue.
Trademarks, Patents & Copyrights
You certainly do not want another business stealing your intellectual property and benefiting from your intelligence. This is why you need to arrange trademarks, patents and copyrights for your intellectual property, which might include:
- Company name
Additionally, be careful not to infringe on another company’s intellectual property otherwise you could face legal action – sometimes businesses do this without even realizing, so you should always be vigilant, especially when researching competitors.
Employee agreements need to be created and signed by all employees when they start working at your business. These are agreements which forbid employees to reveal or share any intellectual property and sensitive data during and after employment.
Every business retains sensitive information, but you need to make sure that you find ways to protect this data so that it does not fall into the wrong hands. This might include:
- Using a shredder for sensitive documents
- Password protection for digital documents
- Backing up data externally
Use Contracts For Any Agreements
Any kind of agreement that you have, whether this is with suppliers, freelancers, employees or anyone else, you should always have a contract drawn up. This puts protection in place while also clearly outlining the details of the arrangement so that both parties have a clear understanding of what is expected.
Insurance is one of the most important ways that you can protect the business from various threats and is particularly important for smaller companies that might struggle to afford and survive a legal dispute. There are many different types of insurance to consider and it will depend on your business, but workers compensation by Next Insurance is a type that most will benefit from as it will provide financial protection in the event of an accident, illness or death that occurs while working. There are many threats to a business and insurance is one of the smartest ways that you can protect the company.
Terms & Conditions
Terms and conditions are an agreement that outlines the rules and expectations when a consumer uses your business. The consumer must agree to the terms and conditions in order to use the services/products offered by the company, so you have protection in place if there is a discrepancy of any kind.
These are the main steps that every business can take to protect itself. As you can see, there are many threats to all businesses in today’s day and age and it is vital that actions are taken to protect the company, staff, employees and everything associated with the organization.