No matter how big or small your company is, there will always be exposures to threats and the possibility of liabilities, accidents, and risk. It has been proven that small businesses are more susceptible due to the increased vulnerabilities these companies have in comparison to larger companies. Massive corporations and conglomerates are less likely to fail due to typically having the more experience, notoriety, time, and a lot more financial power that they can leverage in the event a mishap occurs.
In order to avoid succumbing to these dangers, it is essential to understand what some of the common risks are. In our post about protecting small to midsized companies from DNS attacks, we discussed threats that many businesses won’t be aware exist. If you aren’t aware of an issue, it then becomes a significant threat to your company. Knowing the possible dangers will allow you to identify these threats before they happen and create a sound risk management strategy to hopefully prevent a crisis from occurring in the first place.
- Interruptions. Interruptions can happen, from an outage to natural disasters, they can occur anytime without reason. Knowing how to get through this disruption is valuable to any company. The US Department of Labor estimates that over 40% of businesses never resume again after a significant occurrence like a flood or fire.
- Complaints/Litigation. Something almost all businesses face or will face at one point. Lawsuits, if not handled properly could be the detriment of your entire business.
- Cybercrime. Depending on the type of business that you have, your company may depend on storing client/customer data and information on software, servers, or databases. This can become a playground for cybercriminals.
- Regular Crime. Without proper security things like inventory, money, and more can be stolen costing you a lot to replace and replenish.
- Rapid Growth. When a company expands faster than anticipated, this can cause shortages, complaints, etc.
It is vital to protect your business from these exposures by having a good team behind you. At Northeast IS, we offer managed IT services, voice and communication solutions, security and surveillance systems, and more.