Your small business is your pride and joy. It is the reason you have a roof over your head; the reason you have a car; the reason you went on that dream holiday in the sun during the Summer months; and it is the reason you are an integral part of your local community. Due to its importance, it goes without saying that you would do anything and everything in your power to protect it.
Below is a list of measures that you can take in order to protect your small business from potential threats, and ensure that your livelihood remains under lock and key.
Secure your business premises
Securing your business’s premises will undoubtedly involve a substantial monetary outlay, but it will be a wholly beneficial step to take in order to protect your livelihood. Shop and business theft, according to ADT, cost business in the excess of $56 million in the United Kingdom in 2013. In order to ensure you small business does not become a part of this stat, purchase large security showers for your shopfront and a CCTV system. Both of these will allow you to adequately prevent thieves from entering your business premises, while also acting as a deterrents to the aforementioned thieves.
Thorough employee background checks
In order to quell the potential of employee theft, perform thorough background checks on job applicants. You need to be able to trust your employees with sensitive company information and important documentation. Therefore, it is essential that you make yourself aware of any past crimes or misdemeanors that job applicants may have been involved in. Only employ people who you believe to be trustworthy.
Invest in security software
If you utilise computers or databases at your small business, ensure that these are sufficiently protected by purchasing security software. A new threat to businesses that has emerged over the past fifteen years is online hackers. If a business does not have protective security software, these hackers can facilely gain access to sensitive company information. Ensure that you protect your business from this threat by investing in high quality security software.
In the unfortunate event of the ending of your marital relationship, a prenuptial agreement will give you and your business a legal safety net. While child custody lawyers are needed, ensure that a dispute regarding your business assets do not make a divorce more difficult. A prenup will secure your business’s financial assets and ensure it is protected from any legal action during a divorce settlement.
In order to protect your business from injury-related lawsuits, it is vital that you obtain liability insurance. This form of insurance will cover legal costs and the costs of legal payouts which may necessary in the event of any customer injuries occurring on your business’s premises. If your business sells products, you can also obtain product liability insurance. This will ensure that your company is not liable to lawsuits in the event of injury being caused by your product.