Editor’s Note: Here at Dispatches, we are always looking for ways to help our readers do things. For some of our readers, that means helping navigate the working world, for others, it means assisting in the ever challenging question, “what’s for dinner?” For still others, it means figuring out how to balance family life with everything else. In an effort to aid in all of these endeavors, we have collaborated on this article written specifically for our readers.
Why do the majority of startups fail in their first year? One of the causes for companies failing is a loss. Loss of capital, loss of data and loss of demand can all have a crippling effect on a business.
That’s why you need to protect your company from this type of issue. There are a few ways to do this such as investing in business security, cyber protection and insurance. Let’s look at each of these, in turn, to show how they protect your business from heavy losses.
The Right Insurance
General liability insurance, data insurance, theft insurance, property insurance – the list of coverages available to business owners is almost endless. Usually, a business will get an insurance package that covers a wide range of different issues. For instance, you might be providing a service to customers. You need to make sure they can’t sue you if they don’t think the service was delivered to a high level of quality. Or, if they argue that negligence was involved when the work was completed.
Usually, if this occurs, it will result in a lawsuit and more often than not a speedy settlement. With general liability insurance, the company will cover the costs of a settlement like this, and it will be one less problem you need to worry about. It’s just one example of the many insurance coverage options for general contractors.
If you’re looking at insurance for general contractors, you need to think about the provider. Ideally, you should look at different companies to find the right fit for your specific business.
Advanced Physical Security
These days, there are no limits on the types of security you can buy for your business. For instance, you can purchase facial ID scanners. This will ensure that anyone entering your business have been officially authorized. It will stop intruders walking into your company and stealing sensitive files or expensive equipment.
CCTV cameras are another must for modern business owners. To save money, the CCTV streams can be monitored off site by an outsourced security specialist. That way, you can cut the cost while still getting 24/7 protection for your business.
Cyber Security
Although, if we’re thinking about the most dangerous threat to your business it’s definitely a cyber attack. Last year hundreds of business suffered a DNS server hack. During this attack, their websites were removed from the Google index meaning that no customers could find their sites online, crippling their performance. Other attacks might include data cloning where a virus copies every file from a computer system. It doesn’t bare to think what a criminal could do with the info you might be storing for your customers.
That’s why proper data security is essential to avoid losses and guarantee your business’s reputation is preserved. An IT support team will monitor your computer network, check for breaches in security and plug any holes.