5 Things That Will Threaten Your Small Business

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things that will threaten your small business

As if running a business wasn’t tough enough, without thinking about all the potential dangers that are lurking out there in the big, bad world.

You want to be focusing your energies on growth, delivering the best service you can deliver, and all-around ensuring that you’re building a business to be proud of; but it’ll also pay – indeed, it could save your company – if you’re aware of some of the threats that all companies face.

Below, we take a look at a few of these: make sure you’re protected from them, and you can spend your days focusing on the tasks that really push your company forward.

The Online World

We’ve heard a lot about digital security recently, in the light of data breaches and the hacking of some of the globe’s bigger corporations. And make no mistake: if it can affect Sony, then it can affect your small business, too, but yours may not be in a strong enough position to recover.

If you’re something of a novice when it comes to online security, then hire a security consultant to conduct an audit. It’ll flag up any potential problems. As a bare minimum, you should be ensuring your passwords are strong, and that you’re using encryption for your computers.

Criminal Minds

It’s not just digital hackers that want to cause you harm. There’s also the real threat of “real world” criminals, too, who may try to break into your premises and steal your expensive computers and printers – or cash, if you keep any on your premises.

While you can’t do much to prevent a gang targeting your workspace, you can make it difficult for them to succeed by installing security doors, CCTV cameras, and motion-sensor lighting. You should also be keeping your valuable belongings out of sight, and deposit any large sums of cash into the bank each day.

Your Employees

It’s not just external threats that pose a risk to your business; your employees do, too. While it’s not pleasant to think about, a large percentage of company crime is internal. To begin with, make sure you’re hiring the right employees; always check their references, and conduct further background checks.

If you have any doubts about their character, then don’t hire them. Where possible, monitor their actions to ensure everything is above board.

Disaster Strikes

Not all your threats will be man-made. There’s also that pesky old devil, Mother Earth on hand to do you harm. If you live in an area prone to extreme weather – particularly flooding – then make sure you have sufficient cloud storage, enough to host all of your important documents. It’ll still cause some damage, but nowhere near as much as if you were to lose everything.

Changing World

The political and financial climate can also affect your business, too. Small businesses can be especially hard done by economic strife, so speak with your financial manager to develop a plan of protection. You can’t be completely immune to global events, but you can limit its impact.