Small business owners often consider themselves immune from cybersecurity attacks, physical thefts, or employee lawsuits.

Irrespective of your industry, the business type, and the number of employees, protecting your company should remain a top priority.

Here are a few tips to help you.

1. Protect your Company’s Sensitive Data

From personal information on employment applications to customers’ credit card numbers, securing sensitive data is crucial.

Here are a few steps every business owner should take:

Control Access to Sensitive Data

Not everyone in your team needs unrestricted access to your network and sensitive information. Put restrictions to ensure your employees have access only to the data they need to get the work done. For paper files and on-premise hardware, such as external drives and disks, use a locked file cabinet.

Require Strong Passwords and Authentication

Using passwords protects your computer network on multiple levels. Therefore, passwords like “123” or those containing an employee’s names and birthdays do not cut it. Everyone in the organisation should create strong passwords and update them regularly.

Train Employees

When it comes to cybersecurity threats, employees are often your weakest link. That is why you should provide them with thorough data security training. Invest in an online course or schedule an on-premise training to teach them the importance of following the company’s security protocols.

They should also know to recognise phishing emails and spammy links. Most importantly, workers need to know when and how to report data security incidents. That is why you need to build a cybersecurity policy and make it accessible to everyone.

2. Invest in an Insurance Coverage

Different business types require different types of insurance. Therefore, consider various factors, including your industry, the type of business, the number of employees, your typical contracts, your annual revenue, etc.

Now, the two major types of SMB insurance are general liability and professional liability insurance.

For example, a single accident could result in lawsuits you may not be able to handle. That is where general liability coverage steps in. It usually includes:

  • Bodily injury
  • Property damage liability
  • Personal and advertising injury
  • Medical payments

Professional liability insurance is also called Errors and Omissions. It protects you against claims of negligence.

3. Perform an Employee and Client Background Check

In today’s hyperconnected world, unfavorable press travels fast. To maintain your company’s spotless reputation, you need to perform detailed employee, client, and partner background checks.

Employers make a common mistake, assuming candidates do not lie on their job applications. A simple background check helps you select the most reliable candidate. It is the final step HR professionals take to make a hiring decision and prevent potential risks.

An employee check includes a wide range of factors, such as a candidate’s social media screening, drug screening, criminal past, and so forth.

In the real estate industry, having an inconsistent screening process is a common mistake realtors make. The real estate background check technology searches nationwide databases. It analyses a client’s criminal search, credit report, social search, employment, rental history, etc.

4. Keep your Records Organised

Whether you need financial help or are threatened with a lawsuit, you need to have fast access to your records. That is why you should keep your paperwork organised.

For starters, back your business files up. Whether you are storing business data in the cloud or on-premise hardware, you need to back it up regularly. Backups allow data to be restored faster and help the business recover from an unplanned event, such as cyber breaches, theft, or natural disasters.

If you are still storing print documents, keep them neatly organised. Use labeled file folders and binders to find relevant information when you need it the most.

5. Improve the Company’s Physical Security

When you hear business security, the first thing that crosses your mind is encryption, antimalware software, and firewalls. However, have you recently assessed your company’s physical safety? It is as important as cybersecurity.

Tailgating, document theft, burglary, and workplace violence are still the most common security threat for businesses.

Here are a few simple steps to improve the physical safety of your company:

  • Invest in video surveillance.
  • Install exterior lights.
  • Have a sign-in system for visitors.
  • Provide employees with IDs and explain their importance.
  • Hire a security guard.

Over to You

There is no one-size-fits-all approach to protecting a business. Before you apply the tactics mentioned above, audit your company’s operations and detect the major security gaps. Only that way will you identify the areas that need require extra protection.

Author Bio

Eve Anderson is a marketing specialist turned blogger. Interested in sports and exciting travel destinations. Love to share content that can inform people.