As a small business owner, the security of your livelihood should always be one of the top priorities. A survey at the University of Florida concluded that nationwide, small businesses lose between $25,000-$33,000 worth of product every minute to theft with up to 40% of losses being shoplifting cases. Small business security should be a priority for your company.
According to a study done by PDS, 43% of cyber-attacks target small businesses and about 60% of small companies go out of business within six months of a cyber-attack.
If these numbers tell us anything it’s that a business is always at risk if the right precautions are not taken. Here’s a list of things you can do for your small business to ensure its safety:
Physical Security
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Install an alarm system and security cameras
A 24/7 surveillance monitoring device and a way to alert both you and the authorities that someone has broken is a good combination to make for a safer place of business. Strategically install the cameras not just inside, but entry points and places that are not usually within eyesight. This is also a good way to monitor employee action and save on insurance.
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Invest in better locks
Small businesses are prime target for robberies and break-ins. In a small establishment, all thieves need to do is to get through one door and they would have access to almost everything. Double check on your legal right on how much you can change your lock (this tends to differ depending on the nature of the business). Make sure that the locks you have installed are high security, not just in the main entrance but on all other stuff, i.e. safes and equipment that need to be kept safe.
In addition to this, be strict and keep track on who and how many people have keys and to what. Creating an inventory of keys with all this information will be helpful.
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Limit access to areas that have sensitive information or expensive equipment
While a big factor in keeping employees is your ability to trust them, this doesn’t mean that they get free reign and access to everything. Make sure that access to areas with confidential information or expensive machines/equipment are limited to you and employees who need to have access to them.
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Instill a strict closing system
Keep track of whoever employee is in charge of locking up for the day. Create a system wherein they have to sign off on everything that needs to be locked or secured before leaving. Add more to this system in accordance to how your business is. As much as possible, have more than one person close out your business as to avoid negligence.
Cyber Security
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Secure your WiFi
WiFi is a common way to access company data. Make sure your WiFi is secure by giving access to people who absolutely need them for their work. Should your business have a need for your customers to be able to access your WiFi, set up a Guest network for them to connect to. Here are other ways you can secure your WiFi for better small business security.
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Update passwords frequently
Make it a habit to change your passwords on business computers every so often. Hacked passwords are a common cause of lost or stolen data. Create passwords that are unique and avoid patterning it from old ones you’ve used. This goes for employees who have log ins to company systems as well, make it protocol for them to change it at least every six months.
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Refrain from opening suspicious e-mails from e-mail addresses you don’t recognize
A lot of communication that small businesses have with their clients and vendors are done through e-mail. This makes identifying what to open and what to ignore difficult. However, cyber-attack through e-mails have cost businesses around the globe about $4.5 billion every year. Make sure that the e-mails you open are legitimate, here’s a good guide on how to tell if they’re a scam.
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Double check privacy policies of systems
Go over privacy policies of third party systems/software that may contain confidential data about your clients and your business. You and your business could be held liable if information gets leaked. Better to know these policies inside and out to be safe!
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Educate employees on potential scams
With the evolution of the digital age, scams are becoming harder and harder to recognize. Keep yourself and your employees updated on what new scams are going around with better small business security. Emphasize the importance of not freely giving information regarding the business to people over the phone or online. This might be an obvious tip, but as security evolves, so does the ways on how to get break them.
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