4 Most Common Threats to Small Business

No business ever reaches a point of complete safety, and not just in terms of security threats, but also in terms of risks that can cause failure. Small businesses can, indeed, grow extremely strong and stable, but they are also very volatile – things can turn upside-down in a matter of days. The best way to try and avoid risky situations is being aware of some of the most common threats that small businesses face.

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Business interruption

In order to stay afloat, a business can’t really afford to make breaks whenever it pleases; in fact, even the breaks need to be calculated and as brief as possible. In short, in order to remain successful, a company needs to maintain a cash flow that is as steady as possible.

The problem here is that business interruption rarely comes announced – it’s usually unpredictable events such as floods, fires, earthquakes and the like that cause it. Fortunately, the best course of action for unpredictable situations is taking all the necessary precautions – having plans for undesirable scenarios planned out carefully and in-detail. For example, if a fire renders your facility unusable for the time being, you should already have a backup plan that will help you quickly move to a temporary location until your regular place of business is up-and-running again.

Of course, all of this will have you hemorrhaging money, which is why you need to consider adding Business Interruption coverage to your Property Insurance policy. Business coverage safeguards are invaluable, yet often overlooked.

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Property losses

One of the largest assets that you own is probably commercial property, especially if you’re a small business. Adequate coverage is the key here, too, in order to protect your legacy from devastating property loss that may or may not occur.

Take an inventory of your property in order to have a clearer picture of what effects a loss can have on your business, and you’ll be able to figure out just how much coverage you actually need.

Although a standard policy will provide replacement cost value for your building and cash value for your commercial property, there are various types of property coverage available out there, so we suggest getting properly informed in this department.

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Physical security

You are responsible for the safety of your employees (legally, as well as morally), and you don’t want your business to end up on the front page of the next day’s newspaper (unless it’s something good). This is why you’ll want to install proper security measures from day one. You can go with the budget choice and install some cameras and ID card-based systems, but we recommend you go with the full package, from active directory integration and built-in visitor management, to global cardholder management – in short, you’re looking for security synergy within your office space.

Security experts from JD Security offer Genetic Synergis– an intelligent IP controller that provides greater flexibility and functionality within your security system – an all-encompassing security environment.

Electronic breaches

We live in the age of technology; meaning that your assets are no longer limited to physical form. On the contrary, some of your most valuable information is stored in the Cloud nowadays, and the worst thing is that you cannot really hope to keep up with your competition without utilizing the powers of the online world to the fullest extent.

The worst thing is that the IT firms tend to have better protection against hacker threats – the majority of IT professionals are well-aware of everything that lurks in the online world.
If your business isn’t entirely (or at all) IT-oriented, and you don’t want to cash out for permanent IT security employees, you can always outsource this department.

 

These four common threats lurk behind every corner, just waiting for the perfect time to strike. The best way to prevent them is to prepare in advance, and protect yourself from dangers such as business interruption, property loss, electronic breaches and, most importantly, physical security threats.