5 Real Threats to Your Business and What You Can Do To Protect Yourself

by Small Business Published on: 12 September 2017 Last Updated on: 28 August 2020

Human eye viewing data on virtual screen - Biometrics concept

Here’s something that should exist, but doesn’t: brand name comprehensive security for businesses. Until such a business is created, you’ll need to employ the services of a few different companies. These days, the threat isn’t just at your back door with a crowbar. It’s also a cyber-attack, the threat of a lawsuit, or a greedy employee. The following lists all the dangers facing your business, and what steps you can take to protect yourself.

1. Cyber Crime

It doesn’t matter if your operation is large or small, eventually, hackers will attempt to victimize you. You’ll need comprehensive cybersecurity to ensure you’re protected, but that may not be enough for large-scale operations. The more profitable you are, the more vulnerable you are. You should think about employing a data forensics company, which provides both forensic imaging and data preservation, as well as comprehensive network security.

2. Physical Security

Great strides have been made in business security, including wireless high-definition cameras that can be viewed from anywhere. Suspicious about something after hours? You can view live camera feeds anytime day or night from your computer, cell phone, or laptop. Coded entry systems, armed guards, and access control are also modern offerings from security companies. Access control allows you to monitor when your employees are accessing your business, and you’ll be updated with regular security reports to let you know who’s coming or going after hours.

3. Risk Assessment

Are you in danger of being sued? If you think an injured or sick employee wouldn’t sue you, think again. Frivolous lawsuits are plentiful in the good ole’ USA where 15 million civil cases are filed each year. It’s important that you bring in the professionals to help you with risk assessment and shore up any areas that have the potential to be harmful to your customers or employees.

4. Greedy Employees

Employees steal from their employers in several ways. They set up fake vendor or customer accounts, steal checks, take cash, falsify records, add time to their time cards, steal inventory, and steal intellectual property. Unfortunately, there’s no one method or company that’s sole duty is to monitor all the ways an employee can steal from you. You’ll need to handle this one on your own.

Make sure that you’re tracking and auditing purchase orders, as well as checks and inventory. Your checks should be locked away in a safe and used in numerical order. Cash theft from a till or another cash source can be monitored by an on-site security team (loss prevention team) from cameras, and they should closely watch employees who are repeatedly using the void function. Time theft can be prevented when you switch to biometric timekeeping solutions, which use fingerprints and ensure one employee can’t punch in or out for another. Your cybersecurity company should provide solutions for protecting data from disgruntled or greedy employees.

5. Natural Disaster

Sometimes, security isn’t about dangerous people. Sometimes, it’s about dangerous weather. You need additional safety measures if you live in a place that’s prone to flooding, hurricanes, tornadoes, and other natural disasters and violent storms. You should have off-site data backups that will help you get up and running after a disaster, as well as backup generators, proper insurance, and an alternative worksite.

All-in-all, there’s no one-stop-shop for security. You’ll need to cast a wide net to truly protect yourself from danger. The silver lining is that security costs far less than what theft or weather will cost you. Long-term theft can cripple a business, which is why it’s important to take measures to protect your business now before it’s too late.

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Mashum Mollah is the feature writer of Search Engine Magazine and an SEO Analyst at Real Wealth Business. Over the last 3 years, He has successfully developed and implemented online marketing, SEO, and conversion campaigns for 50+ businesses of all sizes. He is the co-founder of Social Media Magazine.

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