Expect The Unexpected: Protect Your Business From These Common Risks

Within the next 60 seconds, your business may come under threat from an unexpected source. Not only will this ruin your day, but it might also signal the end of your business. Sorry for the bad news!

However, assuming nothing does happen within the next 60 seconds (we hope), you can take steps to protect your business from those unexpected threats.

Here are just a few examples.

Risk 1 #: A natural disaster

It might be a sudden flood from above. Something might catch fire, laying waste to your business premises. A heavy wind might cause damage to the business exterior. And when the elements have finished wreaking havoc, you might have to buy new equipment, pay for expensive repairs, or shut up shop temporarily or permanently.

Tip: Strengthening your barricades is one obvious answer, as is paying for insurance cover to mitigate your financial losses. Taking an audit of everything you own is a good idea, as this will help you when it comes time to dealing with your insurance company. Having a disaster recovery plan is also necessary, using the advice given here to create something practical for your business ahead of time.

Risk #2: A security breach

This won’t be news to you, as there are stories emerging every day about businesses crippled by security breaches and data theft. However, are you prepared for this happening to you? Many smaller businesses come under risk because they are considered easy targets, so you do need to protect your data.

Tip: You need to make it difficult for hackers to attack you, and you can do so in a number of ways. For starters, use a VPN (Virtual Private Network) to hide your digital footprint. Read this article on how to hide your IP address to find out more. Then strengthen your defences by installing a firewall to your system, as well as anti-virus software to protect your computer system from malware. Always ensure your passwords are secure, changing them regularly to protect your computers from hackers both on and offline. And never ever open an email link you aren’t sure about, taking note of phishing scams that are designed to trick you into giving personal information away.

Risk #3: A workplace injury

And everything was going so well until an employee or customer had an accident in your workplace. As a consequence, you then had to pay out big bucks in compensation claims, as well as suffer the losses of an employee or customer who might not want to return to your business again.

Tip: For starters, make health and safety training a priority for your employees. The better educated they are, the safer they (and your customers) will be. Put policies in place too, with clear guidelines for risk assessments for all areas where there is a risk of an accident and injury. And again, ensure you have insurance in place, including workers compensation insurance and public liability insurance to protect your business interests.

Always expect the unexpected. Take these steps now to prevent your business from these common risks. A delay in doing so could be catastrophic should disaster strike, be that in the next hour, tomorrow, or at any point in the future.

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Expect The Unexpected: Protect Your Business From These Common Risks

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