Whenever we think of protecting our business, we immediately think of protecting its growth, making sure that it can still trade, and that hackers can’t get to our data. But when you have a business that operates from physical premises and has employees, there is a lot more to consider. Below are just a few things you that need to think about to ensure that the real world doesn’t harm your business.
All businesses must have insurance, but there is a difference between meeting the legal requirements and having the right amount of cover. Not only do you need business insurance, but you should have personal liability cover in case any accident should occur involving the general public. Your insurance should cover you for any loss or damages that may occur from theft, accidental or deliberate fire, and weather damage. You can also look into keyman insurance which helps to protect your business from loss of earnings should anything happen to a few of your most important staff members. There are a variety of industry specific policies that you could benefit from as well. Not many people know about environmental insurance, but it can be incredibly handy to have. Do some research and ask your competitors what type of cover they have.
Health & Safety
An insurance policy will protect you should the worst happen. Health and safety will help to prevent the worst from happening in the first place. Companies like AEL fire alarm servicing can help to make sure that your fire alarm is working correctly to minimise the risk of a fire going unnoticed and getting out of control. You should also ensure that any potential hazards are dealt with properly too. Clear up and debris or spillages promptly to avoid the risk of people tripping or slipping. Put warning signs up in particularly dangerous areas or where they may be needed. Ensure that the structure and fabric of the building are in good repair too, a nail sticking out of a door or wall could be a lawsuit waiting to happen.
It always pays to have comprehensive employee medical cover. You may think it an unnecessary cost, but every day that your staff are out of work is costing your business money. Not only do you have to cover sick pay for your staff, but you either have to pay for someone else to cover them, or suffer reduced productivity in the workplace due to being short-staffed. Good medical cover will help your staff to heal and recuperate at a quicker rate, meaning that they are able to rejoin the workforce earlier than they otherwise would.
There you have it, a few simple ways to protect your business from harm in the real world. If you take sensible precautions against all eventualities, then you will find that you are seldom caught unawares. Running a business can be stressful work at the best of times, the last thing you need is to be worried about all the ‘what-ifs’ and worst case scenarios.