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Small Business Security:
What You Don't Know Could Cost You Everything!
There are many misconceptions in the small business community as to what constitutes business security. It is more than just having locks on your doors and an alarm system to protect your business assets. There is no one size fits all in the security world, even if you have two businesses that are the same but in different areas of a city, they will still have varying types of threats and vulnerabilities to security issues.
This is why each business, no matter what the size, whether it is a brick and mortar location or home based business, needs to have security measures and risk assessments specifically for each location.
You've heard that location, location, location is the most important part of a business. Criminals see it the same way. Most business crimes are that of opportunity, if you give them the opportunity they will steal anything they can from you or find a way to make you a victim.
The big issue for businesses in the security assessment should be that of physical security of the location. This has to do with the location you're in business at, it includes at a minimum:
Hazards in and around the outside of the building for anyone on site
Crime in the area that could affect your business or people on site.
Parking Areas, Lighting, Landscaping, Access and Egress Points.
Doors, Windows, Locks, Cameras, Visibility day and night of inside.
Routing of highways, truck traffic, ease of escape routes, possible accidents
The next issue is the protection of people; this includes at least the following areas:
Background Checks for employees before hiring and annually after hiring.
Training in Operations, Emergencies and Security Issues for the business.
Written Policy and Procedures to cover the above issues.
Identifying and reducing possible risks and threats to your business.
The last issue is protection of information to include at least these areas:
Policy's for handling information safely.
Storage of electronic information of customers, employees and vendors.
Access to information in the business and who can access it for what reasons.
Backups of all business information stored off site.
Annual reviews of information security to include web based uses.
There are many more issues that need to be addressed in more detail as a security assessment is completed, but these few areas will get you started in understanding what the bare minimum is needed to provide security for your business.
It doesn't make a difference whether the business is a storefront or home based, they still need to be looked at; storefronts just mean more areas to look at and assess overall.
Please feel free to contact us through our website here, email us, or call us directly at 727.657.3339 to help you in your security risk planning.
Small Business Security
Protecting Your Business Against Fraud and Theft
When many entrepreneurs start a business, they usually do not spend much time thinking about security. Many are too busy trying to get everything else done. This can change quickly when you decide to raise money from venture capitalists who many times will insist that your business security be increased to protect their future investment.
In general, here are a few tips for reducing threats:
Check out your employees before you hire them, check references and do a background check. Like most preventative measures, it is less expensive than dealing with the consequences, but it does take time.
Limit access that employees have to data and to your server. If your server room is locked, but the person in charge of the backups keeps the key in his desk in his cubicle - your server is not secure! If your HR person has access to all the digital employee files but keeps his or her password taped to the side of the computer, that data is not secure.
Require that your employees use strong passwords and changed them regularly. This will cause much grousing, but it's your business and their jobs, so they will have to live with it.
Backup your data regularly. You should back up your data daily. Every week you should have a weekend backup that is taken off site and stored. Annually backup your data and keep it in a safe deposit box or with your attorney.
Have virus protection software and digital intrusion detection software installed and reviewed regularly. If you outsource your IT, the company providing these services should be able to provide this for you.
Lock your doors, even during business hours. This is why Home Depot sells those wireless doorbells. They are cheap. I am always amazed when I can walk into a business with no receptionist and wander the halls freely.
Get security cameras. This is both security for your business and for your employees.
Assign one of your senior managers as a security officer. This person is in charge of understanding possible threats and determining the best prevention. He or she should also receive training in what to do in case of an intrusion, digital or otherwise.
Another area of security is internal fraud, specifically employees stealing from you. As the security officer of one previous company,
Some employees can be required to take a class on internal fraud. The characteristics of the offender tended to be (1) male, (2) in his 20s, (3) college educated, and (4) had never committed a crime before. Not to say that a 50-year-old female, high school drop-out criminal will not commit the crime, but statistically those were the characteristics that came up most often.
Usually what happens is the perpetrator is in a bind, can't make a car payment, rent, doctor's bill, and he starts with just "borrowing" money or items to pawn from the company. He has full intentions of "paying it back." But the reason he got stuck in the first place still exists, so he has to steal more to cover up the first crime, and on and on it goes.
To prevent this type of fraud, have strong accounting policies and procedures. Have revenue checks come to a PO Box. Have a different person sign the checks than the one who creates them. Allow only one person to do the ordering for the company and keep an inventory of what each employee has. For instance, memory sticks disappear really easily. Yes, an occasional one gets lost, but someone who loses them constantly may have a problem.
Ask a security professional, in concert with your accountant for assistance and security risk planning to create these policies and procedures and have your books audited or reviewed at least twice a year and at the absolute least, annually.
Although it is possible to go overboard on security, very few companies actually do, and most don't even come close to basic security. Make sure your company is not one that gets caught saying "but she seemed so trustworthy, I can't believe that she stole from us."
Please feel free to contact us through our website here, email us, or call us directly at 727.657.3339 to help you in your security risk planning.
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Business Threat Assessments
A business threat assessment is a proactive, methodical process for identifying, evaluating, and mitigating potential internal and external risks that could harm a company. A comprehensive assessment identifies vulnerabilities across the business, measures the likelihood and impact of each threat, and guides the allocation of resources to address the most critical risks.
Key types of business threats
Business threats fall into several categories, all of which must be considered in a comprehensive assessment.
Cybersecurity threats
Malware and ransomware: These malicious software programs can disrupt operations, steal data, and hold systems hostage for ransom.
Phishing and social engineering: Deceptive emails and manipulations that trick employees into revealing sensitive information or granting unauthorized access.
Data breaches: Unauthorized access to and theft of confidential information, which can lead to financial loss, legal penalties, and reputational damage.
Insider threats: Malicious or accidental actions by current or former employees who misuse their access privileges.
Operational threats
Supply chain disruptions: Issues with suppliers, such as delays, shortages, or geopolitical instability, can halt business operations.
Technology and system failures: Equipment malfunctions, network outages, and software failures can cause significant downtime and create security vulnerabilities.
Workplace hazards: Physical injuries, unsafe work practices, and mental health challenges that affect employee well-being and productivity.
Financial threats
Market risk: The potential for financial loss due to fluctuations in market prices, such as interest rates, stock prices, or commodity costs.
Liquidity risk: The risk of not being able to meet short-term financial obligations due to a lack of available cash.
Credit risk: The risk of financial loss if a client or counterparty defaults on a debt.
Strategic and reputational threats
Competition: Competitors' actions can impact market share, product development, and pricing.
Reputational crises: Harm to a company's public image from negative publicity, defective products, or poor customer experiences.
Technological changes: New technologies can make existing products or services obsolete.
Physical and external threats
Natural disasters: Events like floods, earthquakes, and extreme weather can disrupt operations and damage infrastructure.
Unauthorized access: Intruders or unauthorized personnel gaining entry to restricted facilities.
Legislation and regulatory changes: The introduction of new laws or industry regulations that force a company to change its operations or incur new expenses.
How to conduct a business threat assessment
A business threat assessment is a cyclical, multi-step process that should be repeated regularly to adapt to new risks.
Define scope and context. Establish the boundaries of the assessment by considering your organization's mission, business priorities, and risk tolerance. Consider the current business environment, market shifts, and any regulatory obligations.
Identify critical assets. Determine which assets are most vital to your business's objectives. This includes physical property, financial capital, sensitive data, intellectual property, and key personnel.
Identify and categorize threats. Assemble a cross-functional team to brainstorm and catalog all potential internal and external threats.
Gather threat intelligence from industry reports and historical incidents. Categorize them into areas like cyber, operational, or financial.
Assess threats using a risk matrix. For each threat, evaluate its potential likelihood and impact. A risk matrix (or probability matrix) is a common tool for visualizing and prioritizing risks. This step helps determine which threats require the most immediate attention.
Identify vulnerabilities. Evaluate your organization's weaknesses across its systems, processes, people, and technology. A vulnerability is a weakness that a threat can exploit. For cybersecurity, this can involve vulnerability scanning and penetration testing.
Develop mitigation strategies. Create specific action plans to address the identified risks. Strategies include:
Treating the risk: Implementing security controls, updating policies, or training staff.
Avoiding the risk: Changing business activities that expose the organization to risk.
Transferring the risk: Shifting the financial impact to a third party through insurance.
Accepting the risk: Deciding to take no action and face the consequences.
Implement and monitor. Roll out the mitigation strategies and continuously monitor their effectiveness. The threat landscape evolves, so it's crucial to regularly review and update your assessment and response plans
SECURITY TIP
Preventing Workplace Violence
Team Members: Picking members for your team can include individuals from Human resources, legal counsel, business security, or management.
Some triggering behaviors: An employee can sometimes exhibit aggressive behavior when they are mad, they could make specific threats against others or the business or company itself, or they could engage in repeated harassment against others.
The Best Response: The team investigates the incident, evaluates the risk posed by the employee doing the threatening behavior, and then develops a management plan that may include counseling, de-escalation, security escorts, or law enforcement involvement.
The response can vary widely and include a solution that is beneficial
for all those involved.
Business Security Measures
Business security measures include physical safeguards like surveillance cameras, alarms, and lighting to prevent theft and unauthorized access, alongside cybersecurity protocols such as strong passwords, multi-factor authentication, firewalls, and regular software updates to protect digital data. Employee training on safety procedures, access control systems for buildings and data, incident response plans, and ongoing security assessments are also crucial for comprehensive protection against various threats.
Physical Security
Surveillance Systems: Install video cameras inside and outside the business to deter crime and identify potential perpetrators.
Alarm Systems: Implement up-to-date alarm systems, including motion sensors, to detect intrusions and respond quickly to threats.
Lighting: Ensure adequate lighting both inside and outside the premises to deter criminals and improve visibility.
Access Controls: Use systems to restrict access to sensitive areas, protecting valuable assets and data.
Physical Barriers: Secure physical media, documents, and devices to prevent damage, theft, or unauthorized access.
Security Guards: Consider hiring security personnel, particularly for high-risk locations or late working hours.
Cybersecurity Measures
Password Policies: Enforce strong password policies and require multi-factor authentication for all users.
Network Security: Deploy firewalls and encryption to protect data and monitor network activity.
Regular Updates: Keep all software, operating systems, and security tools updated to patch vulnerabilities and protect against new threats.
Endpoint Security: Install antivirus software and other security tools on all devices to protect against malware.
Data Backup: Implement a robust data backup strategy and regularly test recovery procedures.
VPNs:
Use Virtual Private Networks (VPNs) to secure remote access to your network.
Operational & Procedural Measures
Security Assessments: Conduct regular security assessments to identify vulnerabilities in both physical and digital systems.
Employee Training: Train employees on security protocols, including handling sensitive information, workplace violence prevention, and emergency procedures.
Incident Response Plans: Develop clear plans and communication protocols for how to respond to security incidents and breaches.
Visitor Management Systems: Implement systems to manage and track visitors, ensuring only authorized individuals enter secure areas.
Monitoring and Auditing: Continuously monitor security measures and track security incidents to refine strategies and identify patterns.
More Business Security Measures
A comprehensive approach covering physical, digital, and operational practices to protect assets, data, and employees. A strong security strategy is vital for mitigating financial loss, preventing reputational damage, and ensuring business continuity.
Physical security measures
These measures protect your business's physical property, equipment, and on-site data from theft, vandalism, and unauthorized access.
Access controls: Systems like keycard entry, biometric scanners (fingerprints, facial recognition), and PIN codes restrict access to secure areas. Use a visitor management system to track and authorize external guests.
Surveillance: High-definition video cameras (CCTV) can deter criminals and provide evidence in case of an incident. Modern systems often include AI-powered monitoring for real-time threat detection.
Perimeter protection: This includes strong fences, security gates, adequate interior and exterior lighting, and reinforced doors and windows to prevent unauthorized entry.
Alarm systems: Intrusion detection systems with motion sensors and glass break detectors can alert you and the authorities of a security breach.
Secure storage: Keep sensitive documents and physical assets in locked cabinets or a dedicated secure room. Implement proper protocols for document disposal, such as shredding.
Cybersecurity measures
In today's digital world, protecting your business's data and network is a top priority.
Network security: Use a robust firewall to filter incoming and outgoing traffic and defend against viruses and malware. Segment your network to protect sensitive data and consider a VPN for secure remote access.
Access controls and authentication: Enforce strong password policies and require multi-factor authentication (MFA). Limit employee access to sensitive data on a "need to know" basis.
Data encryption: Encrypt sensitive data both in transit (e.g., using TLS for website connections) and at rest (on servers or devices) so that it is unreadable if intercepted.
Regular software updates: Apply security patches to all software and operating systems promptly to fix known vulnerabilities that hackers could exploit.
Data backup and recovery: Implement a regular data backup strategy (like the "3-2-1" method) and a disaster recovery plan to ensure business continuity after a data loss event.
Operational and procedural measures
Your staff and policies are critical to maintaining security across the entire organization.
Employee training: Regularly train employees on security best practices, such as how to recognize phishing emails, report suspicious activity, and handle sensitive data correctly.
Studies show that human error is a factor in the majority of data breaches.
Incident response plan: Develop and test a clear plan detailing how your business will respond to a security incident. This includes steps for containing the breach, communicating with affected parties, and recovering operations.
Risk assessments: Conduct comprehensive and ongoing assessments to identify vulnerabilities and prioritize security measures based on your business's specific risks.
Vendor management: Assess the security practices of any third-party providers who handle your company's data. Put appropriate security standards in your contracts with them.
Document security protocols: Establish clear procedures for handling and storing physical and digital documents. This includes rules for access, use, and disposal to prevent information leaks.
Physical Threats to Your Business
Physical threats endanger a company's people, property, and physical assets.
Theft: This includes the theft of valuable equipment, inventory, sensitive documents, and intellectual property. It can be carried out by external criminals or internal staff.
Unauthorized access: Intruders can gain access to restricted areas through forced entry, or through "tailgating," which involves slipping in behind an authorized employee.
Vandalism: The malicious destruction or defacement of property can result in significant repair costs and project a negative public image for the business.
Workplace violence: Acts of violence and intimidation, whether from employees, customers, or external threats, represent a serious risk to employee safety and can create liability issues for a business.
Natural disasters: Events such as floods, fires, and storms can damage a company's infrastructure and assets, causing widespread disruption
Business Security Solutions
Business security solutions include physical systems like video surveillance, access control, and intruder alarms to protect assets and premises, alongside cybersecurity solutions such as firewalls, endpoint detection and response (EDR), data encryption, and antivirus software to prevent digital threats and data breaches. Businesses also benefit from integrated systems, managed monitoring services, and professional risk intelligence to provide comprehensive protection against evolving physical and digital threats.
Physical Security Solutions
Video Surveillance: High-definition CCTV cameras provide monitoring and can deter intruders.
Access Control: Systems using keypads, fobs, or biometrics restrict entry to authorized personnel, protecting sensitive areas.
Intrusion Alarms: These systems detect unauthorized entry and trigger alerts to help prevent theft and vandalism.
Visitor Management Systems: Streamline visitor check-in and ensure a professional and safe entry process.
Electronic Article Surveillance (EAS): Used primarily in retail to prevent theft and manage inventory.
Cybersecurity Solutions
Firewalls: Essential for blocking suspicious network traffic and preventing unauthorized external access.
Endpoint Detection and Response (EDR): Monitors and tracks activities on individual devices to detect and respond to security threats.
Antivirus and Detection Software: Protects against malware, viruses, and other malicious software on devices.
Data Encryption: Scrambles sensitive data to make it unreadable to unauthorized users, even if a breach occurs.
Identity Management: Systems that manage user identities and access to digital resources, ensuring only authorized individuals can access them.
Integrated and Managed Solutions
Integrated Security Systems: Combine various physical and digital security measures into a single, comprehensive platform for streamlined management.
Monitoring Services: 24/7 monitoring by security professionals to quickly respond to security events, including alarms and suspicious activity.
Managed Security Services: External providers who manage and maintain a company's electronic security systems to ensure reliability and effectiveness.
Cloud Security Solutions: Tools and services focused on securing data and applications stored and processed in the cloud.
Business Security 101
Business security 101 encompasses a foundational approach to safeguarding your business's physical and digital assets. This includes protecting against both external threats, such as theft and cyberattacks, and internal risks, like employee error or fraud.
Physical security
These measures protect your business's premises and physical property.
Security audit: Assess your building's vulnerabilities, identifying weak points like doors, windows, and entryways.
Access control: Limit who can enter certain areas of your business. This can be achieved with access cards, keypad locks, or even biometric scanners.
Surveillance systems: Install CCTV cameras to monitor activity inside and outside your business. Modern systems can provide 24/7 remote monitoring and high-definition video.
Intrusion detection: Alarms and motion sensors can alert you and authorities to unauthorized entry.
Security lighting: Properly lit perimeters and entry points can deter potential intruders.
Document security: Store sensitive paper documents in locked cabinets and have a policy for securely disposing of confidential records.
Cybersecurity
Protecting your data and network from digital threats is essential. Measures include training employees to recognize scams, enforcing strong passwords and multi-factor authentication, and keeping software updated. Restricting access to sensitive data, securing Wi-Fi, and using VPNs for remote access are also key.
Regularly backing up data is crucial for recovery.
Risk management and planning
Protecting your business requires proactive planning. Conduct a risk assessment to identify vulnerable assets and create an incident response plan for security events. Evaluate the security practices of third-party vendors and consider cybersecurity insurance for financial protection against breaches.
Employee Protection at Your Business
Protecting employees involves both legal compliance and proactive safety measures, including adhering to OSHA standards to prevent hazards, implementing safety training and equipment, assessing and addressing potential risks, and providing a non-discriminatory environment free from retaliation. Key strategies include performing hazard assessments, conducting safety training, using personal protective equipment (PPE), reporting and fixing unsafe conditions, and understanding employee rights under federal laws like the Occupational Safety and Health Act (OSH Act) and the National Labor Relations Act (NLRA).
Employer Responsibilities
Provide a Safe Workplace:
Employers must comply with the OSH Act, which requires furnishing a workplace free from recognized hazards that are likely to cause death or serious physical harm.
Comply with Standards:
Employers must adhere to OSHA standards and provide employees with proper training, labels, and alarms to inform them of workplace hazards.
Provide Protective Equipment:
Employers must provide and pay for necessary personal protective equipment (PPE) as required by OSHA standards.
Perform Hazard Assessments:
Conduct thorough hazard assessments to identify potential physical and health hazards in the workplace, then develop strategies to mitigate them.
Ensure Safe Tools and Equipment:
Provide and properly maintain safe tools and equipment, ensuring employees are trained on their correct and safe use.
Do Not Retaliate:
Employers cannot retaliate against employees for using their rights under the law, such as reporting a work-related injury or illness.
Employee Responsibilities
Follow Safety Rules:
Employees should use equipment, tools, and machinery properly for their intended purposes.
Wear PPE:
Employees must always wear the necessary safety gear and personal protective equipment.
Report Unsafe Conditions:
Employees should report any unsafe conditions or hazards immediately to a supervisor.
Maintain a Clean Workspace:
Keep the work area clean and free of clutter to enhance safety.
Legal Protections
Occupational Safety and Health Act (OSH Act):
This federal law requires employers to provide a safe and healthy working environment by setting and enforcing standards.
Equal Opportunity Laws:
These laws protect workers from unfair treatment based on protected characteristics like age, gender, and race.
National Labor Relations Act (NLRA):
This law protects employees, both union and non-union, from retaliation when they act together to address issues like wages, hours, and working conditions, including health and safety concerns.
