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Businesses today are at risk of a great many things from cyber attacks to litigation. One wrong move and your small business could be ruined forever, whether it is reputational damage you suffer or a lawsuit that causes you to fold.
With that in mind, below are some of the most important ways you can keep your small business safe right now.
If you are running a small business, and you want to protect it as best you can, then you need to have as much insurance as necessary. You will need public liability insurance, building insurance, and employer liability insurance as a minimum, but speak to a broker to ensure you get all the insurance you need to protect your company from any and all threats and you will not regret it.
If you want to avoid the risk of litigation against your business by someone who has been injured when working for or patronising your business, then you need to ensure you are following health and safety regulations to the letter. Whether that means doing machinery risk assessments with ST&L or working with the local authority to ensure you are doing everything by the book, you should make this a priority if you have not already done so.
Most of us use the internet to some degree when running our modern businesses, and if your company is connected to the net in any way, that means it is at risk of a cyber-attack. Luckily, there are a number of things you can do to decrease your chances of being hacked, from encrypting any sensitive client data, so that even if it is stolen, thieves will not be able to access it, to installing malware and antivirus programs that will alert you to and prevent, cyber attacks from being carried out at all.
When the time comes to take your business from a one-man band to a company with employees, then you should make sure that due diligence is done to vet your employees and weed out anyone who may be dishonest or disloyal. We tend to think of data breaches as coming from cyber attacks and hackers, but often, data is leaked or misused by employees too, and this can be even more devastating, so do all you can to lower the risk to your company of employing the wrong people.
If you are planning to open an office space, or shop, for example, then be sure to pick a location that is known to be as safe as you can afford to minimise the risk of robbery and other threats.
You have put so much time and effort into building your small business that the last thing you want is or it to fold, so be sure to put these safety measures in place asap for the sake of your business and its ability to keep on trading. Good luck.
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