From the solopreneur to multi-million-dollar corporations, businesses of every size face risks: legal, physical, and digital. Self-protection can seem bewildering. We’ve broken down ten areas of concern and offered advice that can help you significantly reduce risk and put your business on more confident, secure footing.
- Make Work a Safe Space: Strive to make the workplace you’ve created supportive of your employees’ physical and mental health. Not only is it the right thing to do, but it can also protect you legally. For starters, make sure your business complies with OSHA guidelines and standards as required by the Occupational Safety and Health Act of 1970. Further, be sure to address any claims or harassment promptly and thoroughly.
- Purchase a Security System: With today’s technology, you can have a security system with a series of camera feeds that are accessible in real-time – and at a reasonable cost. The cameras themselves are sometimes enough to scare off a crook. But if a crime does happen, having video footage will increase chances of catching the culprit and retrieving stolen data or property.
- Do Regular Data Back-Ups: Sometimes all it takes is a small computer glitch to wipe out your data. Don’t take that chance. Back up your data on a regular basis. Today’s cloud platforms make this easy and automatic.
- Beware Malware: Malware is always lurking, with the potential to intrude on your network and rob it of valuable data. Invest in security software for every computer in your organization. Also, require your employees to attend a computer security training session. Topics covered should include when to share login information (answer: only in-person to authorized individuals) and suspicious email attachments (which should never be opened).
- Insist on Iron-Clad Passwords: Some passwords are easier to hack than others. Require everyone in your company to establish harder to-crack passwords. The most secure passwords require a mix of numbers, letters (both lower and upper case), and special characters like @ and ?. For even stronger protection, require a new password every three months or so.
- No Company Business on External Devices: Some employees may prefer to perform company work on their own laptops and other devices, but this is potentially opening a can of worms, security-wise. Issue company computers to every employee and insist that no company work should be performed on an employee’s personal equipment.
- Get Permits: Whether or not your business requires special permits or licenses depends on where you’re located. The important thing is to make sure you have what you need. If you’re caught without a necessary permit or license, you could be hit with hefty fees or even a shut down.
- Business Names – Unintentional Copy-Catting: If you’re using the same business name as another company, you could be opening yourself up to a lawsuit – even if your intention was never to copy or steal. Instead, do the research. Start with a Google search, then go to Register.com and perform a domain name search. Next, check state and federal business name registries. Ideally, this should be done before settling on a business name.
- Put it in Writing: A handshake is nice, but in business, if it doesn’t come with a written contract or agreement, it could become a nightmare. Whether you’re entering into a transaction with a business or individual, always put the details of your agreement in writing. Not only does it clarify expectations for both parties, but it protects you if something goes awry.
- Use Arbitration Clauses: Legal fees can be substantial and possibly cost you your business. Arbitration is much more affordable. That’s why it’s smart to require parties to resolve their disputes first through an arbitration process. How? By including an arbitration clause in your contracts. You don’t need the resources of the big corporations to make your business safer.
These ten steps will keep you out of harm’s way for the majority of threats businesses face – if you act on them. Act now!
