6 Ways to Protect Your Home-Based Business.

7 years ago | Posted in: Latest Politics News | 875 Views

More than 43 million Americans operate part-time or full-time businesses from home. The truth is that home-based businesses face as much risk and challenges as working from a commercial office. You have to grapple with data safety hazard, insurance, and legal compliance, as well as financial uncertainties. The key to successfully running a home-based business is to separate business activity from home activities. You will need a good plan and excellent time management. There are at least five aspects of security that you have to institute for your home-based business.

  1. Insure The Business

Your home insurance does not cover the operations of a business run from home. That’s why you need a general liability insurance, data compromise coverage, as well as business property coverage. Your choice of coverages will depend on the nature of the firm and the legal compliance that stipulates the mandatory policies. You will also have to get coverage for your employees in case you hire an employee or two to help you run your firm. Most often the business insurance policies needed are pretty similar to those required for businesses run from a commercial premise.

  1. Master The Business

Make sure you have a firm grasp of the industry dynamics. Working from home minimizes your level of networking which also amplifies the financial and investments risks that you are taking. You have to be able to ascertain whether a client or partner is a scam or a legitimate business. The ability to protect your firm from poor and risky financial investments and agreements is very critical. You need to have a number of contacts who can always run background checks on any business you want to engage.

III. Screen Your Employees

Working from home doesn’t mean you have to hire just about anyone. It’s a professional venture for which you need to design an interview model. Make sure you have interviews that can assess them for both aptitude and skills. While at it make sure you run background checks on them. Any previous charges of felony or a brush with the law should be a big red flag. That doesn’t mean everyone who has had issues with the law is suspect. Make sure they have valid credentials, and proper background checks since working from your home raises the level of integrity required of them.

  1. Secure Your Transactions

You must have a cabinet and a series of safes for your most critical documents. These documents could range from personal data, intellectual property, permits, and licenses as well as credit card data. Regularly dispose old transaction records that you no longer need. Make sure you shred them properly and hand over to garbage disposal firms. There has to be a series of steps of authorization required before anyone can access these documents. Most importantly only those who have clearances among your employees should be able to access these documents.

  1. Arm Your Home With A Security System

You have to install security locks, CCTV surveillance as well as smoke and fire detectors. There has to be burglar alarms and reinforced windows. Let a security experts make a run through of your home and advise you on what safety measures you might need. Once installed ensure regular testing and check-up of your security systems to ensure that they are up to the task. Protecting your home from burglary and theft will help you avoid thousands in losses. That’s because you are protecting both your home and your firm.

  1. Install Anti-Hacking Tools

If certain documents are very critical, you must secure them online, preferably on a cloud-based service before disposing the hard copies. As a precaution, make duplicates and store them on a local hard drive. Ensure that your emails and computers have strong passwords and excellent antivirus software. Refrain from using public connections when working or transferring sensitive documents. In case you think you’ve been hacked hire an expert to fix the problem.

In the end you are still running a business and this carries al the risk associated with managing an enterprise. You have to grapple with data safety hazard, insurance, and legal compliance, as well as financial uncertainties. However there are challenges that are unique to home-based business. The most important thing is to get pros in each of these six fields and get their preliminary security assessment.

 

By: Kevin Faber  

 

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