Unfortunately, running a small business doesn’t come without risk. This year has brought business to a halt in many fields, and it’s important more than ever to protect your company. You need a foolproof plan in place to protect your business from theft, copyright issues, and cybercrime. There are several ways you can protect your business assets and keep your company safe.
If you’re about to reopen your business, it’s vital to have proper security measures in place. This way you’ll be able to protect your assets in the building and it will give you peace of mind. Here are ten ways to ensure your business assets and commercial property are safe and secure.
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Create a business entity
Create a business entity such as a Limited Partnership or Corporation. This way you will able to transfer all your business assets under the name of the company. A limited partnership, for example, means that you’ll only be liable for investments you’ve made in the business. Corporations help you to protect your personal assets. Here are some more examples of types of business entities.
Separate personal and business assets
There is a term in business that separates your company from shareholders, known as the corporate veil. It’s vital to keep your personal and business assets separate so that you don’t have all your eggs in one basket. This involves separating your accounts, keeping everything in the company name, and maintaining your corporate logo.
Security system
It’s vital to have an adequate security system in place to protect your assets and your commercial property. Install security cameras and stay vigilant at all times. 24/7 Video surveillance is a perfect way to put off any burglars from breaking in. An alarm is also a perfect deterrent for intruders. Security companies such as Watchmen Security Services can help you set up these features.
Nowadays security systems are very advanced. A new updated security system can also include fire alarms and smoke detectors. Using the latest technology, biometric scanners at doors allow for private access, or to open or lock doors without a key.
Smart access
Consider smart locks and automatic look systems. Smart keypad and fob entry devices allow you to have control over who enters your property. You’ll also be able to change security settings automatically. This way you can restrict assess to your commercial property more easily.
The best thing about smart security is that you’ll be able to control all the features from your smartphone. You can even do this remotely. You’ll have peace of mind knowing you can monitor your commercial property at all times.
Protect your intellectual property
Your intellectual property needs protection as well. This refers to any inventions, literary or artistic projects, symbols, names, and other products your business has created. Protecting your intellectual property means that other people won’t be able to steal these.
Copyright, patents, and trademarks are all examples of intellectual property protection. It’s advisable to work with an intellectual consultancy firm that can take care of your intellectual property management for you.
Always follow protocol
Ideally, you want to avoid any loophole or fraud in your procedures. Make sure your business is protected by proper leasing agreements, official contracts for every project, and keep everything above board. Always work with licensed, bonded, and insured professionals. To be on the safe side, consult asset protection specialists and legal and tax advisors.
If there’s any gap or discrepancies in your business history, this could make you liable legally in the future. It’s better to spend more money now and make sure everything is done according to the correct procedure, even if it takes longer. This will also be much better for your business reputation
Update your devices
Often you’ll find that over time your software will become incompatible with particular add-ons and web formats, so update your software and operating system whenever you have a notification to do it. Older operating systems will not be supported by virus protection software, and are much less secure in general, which also makes them more problematic to use.
It’s a good idea to keep all your devices and hardware up to date as well. Newer models will be more compatible with software updates and are automatically protected by more advanced security software. Newer devices can be set up to ask for fingerprint or voice and face recognition.
Keep your network secure
Ensure your WiFi network is secure. If you have a “guest” network set up you should regularly change the password, as you’ll be giving it out often to clients and visitors. Be careful when using public networks and avoid sharing sensitive data. Instead, use a virtual private network (VPN) as an extra precaution.
A VPN has a higher encryption level which maintains security while you send data online. You can have more peace of mind knowing that you’ll have internet freedom but with privacy and confidentiality at the same time. Any data you send will be encrypted.
Umbrella insurance
Another way to ensure your business assets are protected is with umbrella insurance. It’s a cost-effective way to obtain significant extra liability coverage. Umbrella insurance provides coverage for everything your other insurance policies have left out. This will help you keep hold of your assets in the case that your other policies can’t cover the settlements. It goes without saying, however, umbrella insurance won’t cover any negligent, fraudulent, or criminal action.
Control accessibility
Be careful and vigilant at work and restrict the accessibility of your employees. You can set up security measures such as pass-codes to prevent whoever you want from accessing certain documents and information. You might also want to consider controlling and monitoring your employees’ internet access as a safety precaution as well.
Make sure you monitor access to your property, your data, and your network at all times. You could even seek professional advice in securing your company. With your assets protected, you can have the peace of mind you need to focus on growing your business.