Tips for Safeguarding Your Business

Starting or growing a business takes a lot of care and hard work, and it’s essential that you take steps to safeguard what you’ve built. While you can’t anticipate everything that could go wrong, building a strong infrastructure and being ready to act quickly when your business’ security is threatened could spare you from wasting resources or facing considerable losses or liability. Here are some important tips about what you need to do to safeguard your business.

Tighten Your Hiring Practices

Part of keeping your business secure involves paying close attention to who you bring on board. You need thorough policies built into your recruiting and screening process for new employees. It is vital that you verify which applicants are the most qualified to perform in the roles that you’re hiring them for. You need to conduct meaningful interviews as well as thorough background checks to assure that you’re bringing in the best people in your industry and filtering out people who could jeopardize your business’ security.

Protect Your Business’ Network

The way that your company manages and sends data is fundamental to the security of its operations. Adopting a strong network security program and training your staff about security protocols can prevent data breaches and other cyber security threats. Work with a consultant or IT provider who is experienced in helping businesses create customized security networks to protect their information.

Insure Your Assets and Activities

Having a good commercial insurance package offers businesses more than just peace of mind. It can provide them with a valuable resource to handle an accident, legal claim, or property damage. Your insurance needs may vary based on your industry and the value of your assets, so it's important that you work with an insurance company that is knowledgeable about your business’ unique needs and risk exposure.

Train Your Employees Thoroughly

Training your staff is one of the most basic preventative safety measures for businesses. In addition to keeping your business safe, good training policies will help you keep your employees safe. Make sure that all employees receive training about what they need to do in their individual job roles. This includes responsibilities such as accident prevention, physical security, financial management, and employment practices liability.

Implement a Comprehensive Plan for Physical Security

Whatever type of work your business is engaged in, you need to evaluate your operations’ security carefully. If you work from a single location that you own or lease, your security program has to be adequate to keep the area safe. It may be helpful to have electronic access controls, a video surveillance system, a surge protection device, and a monitored alarm system.

Ensure Compliance With All Federal, State, and Local Law

Working with good legal counsel will keep you apprised of what you need to do to keep your business in compliance with key regulations. Every aspect of your operations from your human resources management to your financial activities and even the environmental impact of your activities may be subject to stringent requirements. Running afoul of any legal obligations could expose your business to serious financial hardship or prevent you from continuing to operate. Depending on the nature of your business, you may need to confer with more than one attorney for counsel so that you can get knowledgeable help about your needs.

Keep Your Financial Information Well-Organized

A strong and secure business has solid financial practices. Use outstanding accounting software that makes it easy for you to manage your books without wasting staff time. Organize your expenditures in a way that will enable you to analyze how you’re using your business’ resources and identify areas where you can improve them. Careful financial oversight prevents mismanagement or misappropriation of funds.

Ultimately, safety and security have to figure prominently in your business’ policies and protocols. No matter how time-consuming or hectic your business’ day-to-day activities can be, a secure infrastructure is fundamental to your business’ strength and development. Take accountability for security, make sure staff understand their accountability, and get professional help to safeguard your business.