3 Ways to Protect Your Small Business

Owning your own business: It’s part of the American dream, but it can quickly turn into a nightmare with lawsuits, theft or other issues that can cause major financial devastation. Inventory shrinkage is a major issue for small businesses, with Tyco’s security survey revealing that the retail industry was hit with $35.28 billion in theft in 2011. You might not want to think about the many disasters that could befall your business, but one way to keep your business going strong is to look at all of the ways you can protect it. With 23 million small businesses in the U.S., according to the Small Business Administration, you have many options specifically designed for small business concerns and budgets.

protecting small business

Mobile Management

You keep your network safe by installing security suites on mobile devices, approving devices brought into your workplace and dealing with liability issues surrounding personal devices. A Mobile Device Management (MDM) system gives your administrators complete control over application installation, virtual desktops and network access. Many companies have MDM offerings that allow for multi-platform device use, including Blackberry.

Blackberry also has created virtualized workspace that keeps work calendars, contacts and other applications separate from personal areas. A virtual workspace creates a secure section of the mobile device, kept completely apart from the employee’s personal files and applications. This feature can often times come in handy when an employee loses their smartphone or leaves the company.

Separation of Business and Personal Accounts

Bank Rate recommends keeping your business and personal funds from co-mingling to protect yourself in the event of a bankruptcy or lawsuit. If your business goes bankrupt, you don’t want your personal funds getting taken away because they were in a business account. When your funds are co-mingled and your business gets sued, the plaintiff may also be able to take personal funds and assets in the event of a judgment against your business. Your personal credit may also take a hit, according to Experian. Take your time when establishing your business accounts to ensure everything is in order.

Mitigating Business Data Breaches

Laptop, smartphone and tablet loss constitutes a major business issue, particularly if you deal with sensitive customer data such as credit card information or medical records. Security suites for laptops and smartphones allow for remote wiping of the drive, GPS tracking, and other features that help you recover the device or destroy the sensitive data, according to PC Pros. It’s better to destroy the data than to let it get sold and ruin your business reputation.

Don’t let a smartphone get provisioned for an employee without putting some form of basic tracking on the device. Some security suites help police track down the device by taking pictures of the thief and uploading them to the cloud.

Photo credit: Steve Bridger