The Best Ways to Protect Your Business

The Best Ways to Protect Your Business
October 28, 2020

Many companies in the United States are now increasingly aware of the business threats and risks posed by various factors. Companies that are oblivious to these potential risk factors may find it challenging to prevent and mitigate them. What’s more, the security of any organization is essential for their success.

As a business owner, protecting your assets, employees, and business should be a priority, and you need to develop fool-proof strategies that will increase business visibility without requiring a massive monthly payment. Continue reading to discover some of the best ways to protect your business.

1. Set up video surveillance systems.


To ensure your business is properly protected, a digital video surveillance system is needed. Incorporating video surveillance into your security framework also offers peace of mind and ensures your business is under continuous supervision. What’s more, it prevents significant financial loss due to liability claims, equipment damage, and productivity drop. Video surveillance also helps your security team monitor events as they occur. With a sound surveillance system, you can secure your business premises—including the parking lot and other facilities.

If you’re after only the best surveillance solution, companies like Verkada can help. They offer a smart, user-friendly, and scalable surveillance solution built with hybrid cloud technology. You’ll find dome cams, bullet cams, mini cams, and fisheye cams on their site.

Verkada also offers a centralized platform so you can see all your installed cameras at their various locations. What’s more, this robust management software works on any mobile device or computer browser. As such, you can access and monitor cameras regardless of their location. Additionally, you can instantly share any video feed via direct link or SMS. This can bring you both physical and financial security, especially if you operate remote sites.

2. Take out an insurance policy on your business.


One way to protect your business from liabilities and vulnerabilities is to take out an insurance policy. You’ll have to provide evidence of insurability but it’s worth it. Insurance can also pay for costly damage repairs. Some of the primary insurance policies include workers’ compensation insurance, disability income insurance, disability insurance, health insurance, and income protection insurance.

Speaking of income protection insurance, it covers you in the event of short-term disability or long-term disability. In some cases, the policy pays up to 75% of your net income for a specified period to enable you to stay afloat as you recover.

Sole income earners or persons with a regular income are encouraged to take out income protection policy to alleviate the financial burden that arises if they can’t work due to sickness or injury. Additionally, the premium paid on income protection insurance is exempt from Goods and Services Tax (GST).

If you’re interested, you can find numerous insurance service providers online, thanks to the increased demand for insurance coverage. However, like with everyday shopping, it’s essential to compare prices offered by different vendors to find the one that gives you good value for your money.

The good news is, sites like iSelect can help. They’re an acclaimed comparison and purchasing site where you can compare and purchase insurance policies from leading insurance service providers. Even more, iSelect’s partnership with Lifebroker allows you to customize the income protection policy to your needs and budget.

3. Hire a business attorney.


While the reason for hiring a business lawyer may be evident right off the bat, having one on standby helps you respond to issues faster. Business attorneys offer sound counsel and legal representation in matters relating to zoning compliance, negotiating a lease agreement, copyright and trademark, lawsuits, and managing legal liabilities.

Most business owners delay hiring an attorney until they’re in a legal situation. To get the matter resolved, they spend more on legal fees, settlements, and court costs. Hence why you should opt for reputable firms with veteran attorneys if you can afford to pay for their services.

Written By
Staff Reporter

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