Posted by : Amanda Stein Monday, April 15, 2013
Whether it's a break-in, computer hack or financial shortcoming, a security failure can compromise your business' success. The 2010 movie "The Social Network," based on the advent of Facebook, depicted how valuable business security is when Mark Zuckerberg reacts to having his company account frozen.
"Do you realize that your actions could have permanently destroyed everything I've been working on?" Zuckerberg asks.
No matter what capacity, strong security is a common denominator of thriving businesses. Protect your business from a catastrophe in 2013 by upgrading your business' credit card, in-store or financial security.
Credit Card Security: A Growing Threat
The fastest-growing security threat in a common business is an everyday function for many businesses. Decades-old technology and limited security measures are behind growing credit card fraud numbers. In 2010, 32 percent of consumers reported credit card fraud in the past five years, up from 27 percent in 2009, according to Consumerreports.org.
Businesses with poor credit card security run the risk of attracting a reputation. With consumers on high alert for credit card scams, being labeled as a credit card wish might as well be a business death sentence. A credit card usually starts with an equipment upgrade. Credit card processing providers have responded to the premium on the security. Capital Processing Network, for example, offers the latest equipment (which is harder to hack), layers of security (such as the Authorize.net Risk Management tool) and 24/7 customer service.
If your credit card processing system is five or more years old, it's time to consider an upgrade. Visit Creditcardprocessing.net to compare features and find a provider that will ensure security.
Burglary Protection: Ever-Present Danger
Modern security risks may dominate the headlines, but burglaries still threaten brick and mortar businesses. According to FBI.gov, there were 5,014 bank crimes in 2011. Non-financial businesses certainly fell victim to their share of criminals as well. Along with the potential for danger, break-ins can result in the loss of inventory, cash or machinery.
Don't wait until your business is burglarized to upgrade security. Security companies like ADT offer intrusion detection systems for as little as $99. If a burglar breaks in after hours, sensors will detect movement and ADT will automatically alert the police.
Financial Security: The Business Saver
Particularly with young start-ups, owners are in a regular struggle to maintain financial security. As the costs of an office, equipment, marketing and employees add up, many business owners find themselves on the edge of disaster before they really get a chance to operate.
Along with building a business model, building a financial safety net will provide a level of flexibility and comfort that can save your business when you hit a bump. If you're just starting to build your business' financial security, a baseline savings recommendation is three months of operating costs. With a nest-egg of savings, you won't have to fold up shop or take out a loan if you lose your top client.
Peace of mind and growth follow for business that take security seriously.