Safeguarding Your Business: The Importance of Proper Security for Work Premises
Overseeing the development and growth of your business is an undertaking with many different moving parts; success is not purely about profit margins and productivity, important as these facets may be. There are other necessary considerations for Safeguarding Your Business, particularly when it comes to navigating the harsh waters of today’s business and finance landscape. ‘Security’ is one facet that start-ups often underinvest in – but how important is it?
Protecting Your Assets
The primary, surface-level benefit to investing in security systems, measures and process is the protection of physical assets – and, hence, the money invested in them. No business is truly safe from the risk of theft or criminal damage, and the consequences of either are not only wide-ranging but potentially dire. Theft of earnings from a store-front till or safe naturally harms profits, but theft of vital equipment or tools (be they office equipment or industrial tools) can have impacts on productivity, client relations and more.
Ensuring Employee Safety
An ancillary benefit to investing in security, but no less an important concern for business leaders of any stripe, is the protection and ongoing safety of any staff working on premises. For example, a commercial store-front might be at risk of opportunistic burglary, which could see sole-working employees put in direct danger; enforcing no-sole-worker rules could see you buddy up your team, minimising the impact of a criminal event on your staff and improving oversight to boot.
The consequences of poor business security extend far beyond the immediate loss of earnings or assets. The impacts reverberate into the long term, whether by reducing employee morale, plunging productivity through limited access to equipment, or temporary narrowing of business scope as materials and equipment need to be re-purchased.
For example, an automotive repair business relies heavily on its equipment to achieve the results for which their clients seek; in the event of theft, the costs inherent to replacing stolen tools can make short-term fulfilment of jobs nigh-impossible, resulting in significant loss of both income and future business. Investing in a contingency like motor trade premises insurance allows the business to quickly recoup lost costs, re-invest in necessary equipment and begin work as soon as possible.
Finally, comprehensive investment in, and attention to, security for your business can help you with a fundamental tenet of your place within a given industry: trust. In order to curry favour with customers both old and new, you need to demonstrate resilience as a business – against any form of disruption. This speaks not just to the security of tangible assets or customer equipment, but also to the safety of information. With cybercrime continually on the rise, investment in cybersecurity measures and staff training to reduce the risk of scams can be essential to keeping customer trust.