Protect Your Business: 5 Things Every Owner Must Do

So, you’ve built a business that you’re proud of; one that is constantly growing and providing you with an income. You can’t imagine being anything other than a business owner and you don’t know what you’d do if the business ever failed. Taking this into consideration, isn’t it important that you protect your business at all costs? As a business owner and employer, you need to plan for all eventualities. Here’s what you can do to ensure your business stays on track.

Review Your Insurance

Most businesses need some kind of liability cover, but many business owners don’t research the exact insurance best for their business before getting started. So, many businesses end up with a type of insurance that’s inadequate if the worst were to happen. For example, if your office were to be damaged because of a fire, you may receive a payout for the damage to the building, but it may not cover the costs of replacing computers, desks, storage units, chairs and other essential equipment. Check your insurance covers everything before renewing it.

Make Use of the Cloud

There aren’t many businesses that can get away with creating little data.  Most businesses have to create and store data in some form. If your building were to be damaged and your business is storing most of its data in filing cabinets, there may be no way to restore what is lost. However, if you store your data and assets via the Cloud, you can always access them, no matter what happens to your office space. Therefore, you’ll never have to go back to square one in the event of a catastrophe.

Check Your Systems

Have you heard of forward date testing? When the millennium hit, most computers and devices registered the year ‘2000’ as ‘00’. The problem is, these systems recognised the year as ‘1900’ instead. Forward date testing uses software as a way of time travelling through your systems to predict any future problems that may arise. So, if your systems were to fail at any point because of this error in programming, you can do something about it now instead of waiting for the inevitable.

Secure Client Data

You won’t just frustrate your clients if you lose personal information, it’s also an offence that could tarnish your businesses reputation. Hackers are more than capable of getting into unsecured systems and viewing private details these days, so it’s more important than ever to have an I.T team that are constantly working to keep clients details secure and private. The last thing you want to be doing is calling your clients to apologise for a data breach.

Have a Back-up Plan

What would you do in the event of a fire or flood? How do you quickly and efficiently get the business back up and running? This is a plan that business owners hope they never have to use, but it doesn’t mean it shouldn’t be available. Plan for the worst-case scenario and nothing can catch you by surprise.

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