5 Things to Consider When Creating a Small Business Security Budget
- 18 Aug, 2019
Small businesses face some of the most daunting challenges; competition is fierce, and markets can be cruel. Yet, the threats they face aren't always contained within markets. Sometimes, small businesses can face much more immediate threats from criminals and thieves.
These kinds of people usually reason that since small businesses don't make as much money as blue-chip companies, they can't afford good business security. And if a small business doesn't invest in security, it may lose everything. Not only can products and information be stolen, but employees can be hurt and business owners can lose everything.
There's a simple way to avoid this though: invest in security for your company. Yet, there's usually only so much a company can spend on its own security. Making a security budget can be difficult when facing all of the other costs associated with running a company.
To learn what to think about when making a security budget for your company, just keep reading below!
1. Information is More Valuable Than Money
If you're a small business in any modern market, it's likely that you have a website. They're perfect tools for reaching out to new customers and allows you to participate in digital markets. Most of all, they keep you competitive against other companies so you don't end up behind them.
Yet, websites can also open new security vulnerabilities for your company. Hackers may try to hijack your website and gain access to sensitive information associated with it. With that information, they may try to hold your company hostage in exchange for ransom, or worse.
In fact, any digital system your company uses can be hacked, and the information on it can be stolen. And if you lose that kind of information, your company may stop running entirely. With it, hackers know they will be able to control the decisions you make and how you operate.
For Best Business Security, Invest in Cybersecurity
The best way to make sure you don't fall victim to hackers is to invest in cybersecurity for your company. Buying antivirus protection isn't always enough; not all cyber-attacks come in the form of a virus. You should look for services that provide constant network monitoring, and perform regular updates on your system.
Most of these kinds of services can be outsourced to security companies. These companies simply require a regular fee, and in exchange, you can enjoy complete protection from cybercriminals. You don't need to put in any work yourself, although you can always learn about how to protect yourself and your company instead.
2. Not Everyone Needs Absolute Access
As a business owner, it's important that you learn to trust your employees. Not only do you need to trust that they will do their jobs correctly and efficiently, but also that they don't hurt the company. There's a limit to how far trust should go, though.
Not everyone in your company needs access to every room, or to every file on your computer systems. It's okay for your company security to restrict access to certain things for certain individuals. Doing so isn't an insult to them.
Instead, it's a way to keep track of who has access to specific things. That way, if something goes wrong, you can quickly identify who is to blame and deal with it. Restricting access can also ensure nothing goes wrong at all since people will know that they will get caught if they try to hurt the company.
3. Digital Security is Important — So is Regular Security
Most companies use the bulk of their security budgets on cybersecurity. It's understandable since most business is done online now. Yet, they shouldn't also neglect the physical security that protects their storefronts and helps ensure they avoid tangible threats. Just because it's important to invest in cybersecurity doesn't mean there aren't other kinds of threats.
Be sure to install strong locks on your front door, and to deter would-be criminals by installing cameras. Without clear, physical defenses against criminals, you may face worse situations than just computer hacks. People can get actually hurt, and you may be held responsible for it.
Federal law mandates that you take measures to keep the workplace a safe environment. That's why you must always perform background checks on your employees and must follow OSHA regulations. If something happens that could have been prevented, you can be held partially responsible.
4. It's a Leader's Job to Protect Their Followers
As a small business owner, you're a leader to your employees and to your region. You're a crucial part of your local economy, and you probably appreciate your employees like family. After all, it's their choice to work for you, so you should protect them.
That's what a good leader does, after all. If your business is robbed, hacked, or if there's any other kind of security breach, your authority may be undermined. Your employees and your customers may start to doubt your ability to lead.
Investing in security isn't just an investment in your company, and it's more than insurance in case people harm your company. Security investments are a way to maintain your authority over your company and are a way to maintain your position in a market.
5. All it Takes is One Security Breach to Lose Everything
Building a company means spending days, weeks, months, and even years putting in work for an idea. It means accumulating new resources and materials to use in building your vision. Despite all that work, it can all be lost in a day.
All it takes is one person to decide they want all you've worked to get. They may break in when you're least expecting it to take everything. And all you can do is prepare in case it ever happens.
Investing in security doesn't have immediate payoffs, but it does pay off when it matters. So make sure not skimp on it, or else you may lose your company.
Investing in Security is Investing in Your Company
Small business security is one of the most important aspects of any budding company. It can be tempting to avoid investing in security so that you'll have a bigger budget for other projects. Yet, without adequate security for your company, all those other projects can be lost in an instant.
The more work you put into them, the more appealing they are to criminals, hackers, and thieves. Make sure that your security budget always matches the value of your projects, so that you can work without worrying about losing them. And for the peace-of-mind that comes with security, just check out our security products.
We work to ensure that your company is secure from all sorts of danger. That way, you and your employees can focus on what matters most: building your company.