In case you’ve never owned a business before, you probably have no idea just how much money you can lose to theft every year. With that being said, safety and security should be one of your priorities as a business owner. Small companies and retail stores are often common targets because they don’t represent a challenge to skilled thieves.
In 2018, the National Retail Federation posted findings of a survey that concluded retailers use nearly $800,000 for every $1 billion in sales. Thankfully, there are some steps you can take to keep your business safe from fraud and theft.
Use an Encrypted Credit Card Reader
As a business owner, it is your responsibility to take every necessary precaution to ensure the safety of your customers’ personal information. If you don’t use an encrypted credit card reader, hackers can basically copy the details off the card by using malicious software that intercepts payment details being sent to the server. Keep in mind that most consumers blame merchants for data breaches. In fact, in a survey published by American Banker, it was reported that 60% of people think merchants are to blame for this.
By using an encrypted credit card reader, the payment details won’t be immediately sent to the server. First, they will be encrypted into a secure code, which will keep the information safe no matter what. When the payment details get encrypted, only a secure financial institution that holds the key is able to access it.
Shoplifting is one of the most common threats every business has to face. Unfortunately, some people are so skilled at stealing things that cameras and similar security measures won’t help. In order to ensure your products don’t get stolen, you should consider hiring a security service company. There are companies like Fast Guard Service that offer security at low rates nationwide. Hiring a security guard will not only keep your goods safe, but your customers and employees as well.
Address the Topic of Security at Your Workplace
Even if you’re taking all the recommended steps to ensure safety and security within your business, you may still experience some issues if your employees are not doing the same. Remember that it is your duty to address the topic of security threats. Host meetings every once in a while to discuss some of the most common threats your employees can encounter and what they can do to neutralize the situation. All of your staff members should understand how important of a part they play in keeping the company safe.
Invest in Cybersecurity
You can be the target of a cybersecurity attack no matter what type of business you have. Keep in mind that hackers often target new small businesses because they’re usually unprepared for a cyber attack. You can take some simple steps to keep data safe like securing your Wi-Fi network so only employees can access it. You should also limit computer access to unauthorized people. Never let a client or any other type of “trusted person” use one of your computers for any reason. It’s also recommended that you set up individual logins with different levels of access to information for each employee.
Keep Data Off-Site
Sometimes, natural disasters can threaten sensitive information like sales records and customer information. In case this type of data can be found on a server in your basement, you likely wouldn’t be able to recover it in the event of a flood, fire, or any other type of disaster. This is why it’s important to keep data off-site. Another one of your options you is to use an external device like a hard drive to backup information. You should also consider using cloud storage to keep your data safe.