The Real Costs of Poor Business Security

As a small business or startup owner, the temptation to save as much money as possible often includes skimping on your security measures. It’s easy to see why, of course, but nonetheless, you could be making a rope for your own neck if you are not taking business security seriously. Sure, you might be bored senseless by so many people telling you to invest in legal protection, online security, and CCTV, but the truth is that the actual costs of ignoring these warnings can be extreme. Let’s take a look at the major consequences of poor business security.

Theft

Theft is an obvious starting point, and it’s important to remember that as a small business you will be seen as an easy target for shoplifters, thieves and burglars. Getting insurance against theft is thoroughly recommended, and you should also think about having a visible human presence wherever possible. Visible alarms, security cameras, and signage explaining your intent to prosecute thieves will all have a positive impact, too.

Hacking and electronic theft

Of course, a lot of thieves operate online these days, and without robust online security, it’s going to make you an ideal target for hackers. Your customer’s vital and personal information is a target, as are their financial details, and if you keep any records electronically, they are up for grabs to anyone with criminal intent. Network security services can help you plug any gaps in your business, and make it as watertight as possible to scare away any potential hackers. And you should also invest in anti-virus programs for all your work-based computers and devices.

Assault, vandalism, and violence

If you have people entering your business premises, you are responsible for what happens to them. And unless you are providing an environment that is welcoming, safe, well-lit and open, there is a good chance you will be encouraging the wrong type of people. Dark areas of your premises – such as stairwells, for example – or dimly lit passageways on either side of your building are like magnets to criminals waiting to pounce. Make sure you take your customer’s safety as seriously as your employee’s by making sure your premises is well lit and safe.

Legal liabilities

As an employer, you have a lot of rules to follow to ensure the safety of your staff and customers – and any other visitor to your premises. If you are deemed to be in contempt of the rules, it can result in a business-busting fine and a day out in a court of law. Make sure you are doing all you can to ensure safety at all times, to ensure you don’t end up paying out compensation for a health and safety incident that could be more than your business can afford.

IP protection

If your idea is profitable, be wary of corporate espionage – it’s a lot more prevalent than you might think. If you don’t safeguard your intellectual property, you run the risk of someone stealing it off you and profiting from your idea. Everything – from patents, sales reports and data that could be giving you a competitive edge is all very valuable in the wrong hands. So, a final word of advice – get a lawyer and make sure you have the right level of robust, legal protection for your business.