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3 Obvious (But Common) Ways Your Business Could Be at Risk

  • Posted: 8 September, 2020

There are many things to think about when running a business. Your head is often spinning in a whirlwind of problems and solutions. With all this effort and time put into operating a successful company, security often falls through the cracks. In this article, we will discuss some obvious and common risks businesses might not be aware are present in their own environment. 

1. Weak IT Security

Whether you are a small or large business, there is a constant threat of data breach among those who do not properly take the precautions to secure their networks. To start, it is especially important to educate employees on IT security. For instance, you should inform staff members on the importance of strong passwords and create an awareness of unauthorized websites or links. It is also imperative to terminate former employees’ accounts to prevent unauthorized use or exploitation. Lastly, it is key that your business has a secure internet connection and contains effective, yet suitable security to prevent attacks. 

2. Location

Most business owners take location into account when developing their companies. However, the demographics, crime rates, community factors, and more can fluctuate over time. It is necessary to be aware of these changes and adjust accordingly. If more risk arises after an analysis, the appropriate security system should be put into place to ensure the protection of your business. Also, be mindful of any adjustments made in the physical area surrounding your enterprise. This can affect the environmental design used to prevent crime around your facility. You can get more information on these factors through your local police department and government. 

3. Valuable Assets

There are many types of assets to a company, including people, technology, and much more. But in this section, we will focus on the products being the assets. While many people think of monetary value with the term “valuable”, a product can be valuable simply because of the worth and interest put into the item. For instance, if you are selling trendy clothing, your products are more valuable versus a non-trending item. This creates a higher risk of theft, as more people want the product, even if its monetary value is not hundreds of dollars. On the note of costly items, if your business does obtain or sell high-priced products, this also puts your business at risk, as the loss of such an item can be devastating to your company. Regardless, if your products hold a high value, be sure to put the proper security in place to prevent theft. 

While immersing yourself into the life of running a business, do not forget to protect it. It is easy to let security slip through the cracks in the hustle and bustle of everything. However, it is imperative to take a step back and be aware of the obvious risks. Act proactively today and protect your business from any potential threats. 

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