How to Keep Your Small Business Protected
While most larger companies have entire departments dedicated to the protection of their business, smaller businesses are often left to tackle unique risks without the same extent of protective resources.
No matter the size of your business, protection should be a top priority, that’s why we’ve put together eleven tips for small business protection, that can easily be implemented into your current business model.
Here are our eleven tips for legal, digital, and physical protection:
- Eliminate Personal Devices
Removing personal devices/bring-your-own-devices, or putting in place adequate monitoring regulations, can help to stop weak links in overall business security. If personal devices can’t be completely removed, consider a universal security package for all employees.
- Malware Defense
Malware defense is an essential form of digital protection, safeguarding your business online. To avoid sensitive document tampering, theft, or destruction, it’s important to train employees on computer security and make sure malware is aptly protected against.
- Make Your Business Brand Unique
A business logo and name need to have no litigation potential, to avoid potentially enormous legal problems, break customer trust, and stall business growth. Research your chosen name and logo, and make sure it’s not in use before establishing your business.
- Use Strong Passwords
To prevent catastrophic hacks, password protection is a must, no matter the size of your business. Just a little extra employee advice on mixing up their passwords and incorporating numbers and symbols, instead of using simplistic passwords, can help to prevent hacks. Data breaches can cost millions on average, so changing passwords on a regular basis and using strong ones is a must.
- Secure Your System
Physical security is just as essential as digital security. Cameras can give you the edge over crime prevention and equipment recovery in the worst scenarios. Strong locks will make it more difficult to break into your premise and also deter criminals.
- Use Written Documents
Using written contracts and agreements shows that your business is professional, but also provides additional security. Everything you promise is down on paper, as are the promises of other parties in a transaction, helping you to avoid problems down the line.
- Keep Data Backed Up
From hacking to a technical malfunction, anything can come along and destroy vital business data. Keeping it backed up is essential for smooth business operation and comprehensive protection.
- Maintain a Safe Workplace
Health and safety is crucial in the workplace, both to establish a safe working environment for employees and to avoid potential lawsuits. Claims of bad treatment, harassment or discrimination should be investigated quickly, competently, and in line with relevant regulations.
- Add Arbitration Clauses
An arbitration clause in a contract can prevent major legal costs, stop long legal processes, and provide a better way for your business to handle disputes of all scales.
- Use Required Permits and Licenses
All businesses need to have certain permits and licenses, but they can differ from business to business and location to location. To avoid shut-downs and legal problems, do all the relevant research to make sure you’re adequately covered.
- Get Business Insurance
Business insurance provides multiple levels of protection, making it essential, even if you’re at the earliest stages of starting your business. Having business insurance can involve protecting your business in varying ways, like through professional indemnity insurance, home business insurance, or public liability insurance. With insurance, you make sure that you’re covered from instances like financial loss and reputation damage.
If you need extra assistance with insurance for your business, then don’t hesitate to ask us for help. We’ll make sure that you know the essentials about protecting your small business with the right insurance.