Why Business Security Is Important for Growth

How does business security help your company grow?

Business security helps companies grow in myriad ways, including the following:

• Business security boosts productivity.Security measures like CCTV cameras can help boost employee productivity. When your staff understands their actions are monitored, they may be more diligent about getting work done. Additionally, managers can use technology like door entry passes to check attendance and hours worked. Your employees may respond to these more structured processes with improved business productivity.
• Business security can lower insurance premiums.Business insurance firms offer lower premiums as a reward to companies that invest in security. That’s money you can use elsewhere in the business more productively.
• Business security means replacing fewer items.Enhanced security equals a reduced threat of theft or damage. Fewer stock items or assets go missing; you don’t have to spend money on replacements, increasing cash flow and profitability.
• Business security fosters customer trust.Customers won’t trust their personal and financial information to companies that don’t safeguard their data. You’ll gain customer loyalty and a competitive edge when you uphold your promise to keep customer data secure.
• Business security can boost foot traffic. According to Eugene Klimaszewski, CEO of electronic security firm Mammoth Security, secure environments reassure customers. “Foot traffic and sales are noticeably higher in safer areas, driving higher sales for businesses,” Klimaszewski explained. When you provide a secure environment, your customers feel safe visiting you. Consumers are more likely to take their families to retail or leisure ventures with robust physical security.
• Business security safeguards commercial secrets.You’ll preserve your competitive advantage when your business security safeguards your intellectual property, sensitive information and customer data. [Read related article: What Is Intellectual Property Insurance?]
• Business security makes employees feel safer. Providing a secure working environment helps your employees feel safe and valued. “A safe working environment boosts employee productivity, and that impacts directly on business performance,” Klimaszewski noted. A safe, secure working environment can also boost morale, encourage loyalty and improve employee retention.
• Business security ensures regulatory compliance. Many industries must comply with stricter security requirements. For example, HIPAA regulations require healthcare providers to protect paper and digital patient data from breaches.

Physical business security measures to help company growth

Klimaszewski says securing your business’s physical location and assets is crucial to growth. “I’ve seen how physical security directly supports the growth of businesses,” Klimaszewski said. “Your assets are better protected, and your losses are lower, meaning you have more money to invest in growth.” 

Consider the following best practices for your business’s physical security. 

1. Take basic initial steps to ensure physical business security. 

Begin your physical security measures with the following actions and decisions: 

• Create an inventory list.Make an extensive list of what your company owns, including stock inventory items and off-site assets like vehicles and machinery. Update the list frequently.
• Secure company documents.Decide how you’ll secure the company documents that need the greatest protection. Prioritize documents that would damage your business or compromise your competitive advantage if stolen. You can also back up your data and documents to an online document management system.
• Plan your alarm response.Decide how you’ll respond to an alert from your business security system telling you that assets, inventory and documents may be under threat. Even after an alert, there may still be time to protect these items.
• Consider outside help.You may wish to involve an independent security consultant to conduct a cybersecurity risk assessment and help you develop a physical security policy. These professionals can often identify threats invisible to you because of their experience.

2. Track assets and vehicles via GPS.

Tag your vehicles and assets with GPS trackers, so you always know where they are. Sensors transmit location information frequently, allowing you to see their positions in near real time. [Read related article: How to Choose a GPS Fleet Tracking Solution]

3. Designate a secure room to keep physical assets safe.

Assets like desktop computers, tablets, laptops, flat-screen displays and projectors are portable and easy for thieves to conceal if you don’t have door security. 

While the face value of this equipment might not always be high, devices may contain proprietary and private data and information. Some devices may automatically log in to your company network, putting your wider IT network at risk. 

Consider creating safe rooms in convenient locations for co-workers to store this type of equipment overnight to help keep company data and assets safe.

4. Hire on-site security guards to protect your premises. 

On-site security guards are a proven theft deterrent. If you’re concerned about theft, security guards can conduct door checks as people (customers, visitors, employees and more) come and go. Security guards can protect stock in big warehouses just as much as they can in a retail outlet.

If the cost of 24/7 guards is too high, consider hiring a mobile patrol for when your premises are closed. They’ll be on-site immediately if a burglar alarm goes off or CCTV detects movement when there should be no one in the building. 

Additionally, mobile patrols can be your keyholders if there’s a break-in. They can let police in to investigate a potential crime scene without having to wait for the company to open.

5. Fit industrial-strength locks on your buildings.

Determined criminals can beat standard commercial-build locks. Most commercial rental properties will allow tenants to change locks once the owner gets a key. 

Replacing a location’s standard bolts with more sophisticated locks should be among the first changes a business makes to help ensure its continued security.

6. Stop unauthorized entry with a door access system.

A range of access control systems can restrict entry and serve as visitor management systems. Klimaszewski says business owners should choose an access system that suits their property’s size and safety needs. “For small to medium businesses, key card systems are a smart pick, costing between $1,000 to $3,000 per door,” Klimaszewski suggested. These straightforward access control systems use RFID-enabled key card fobs that unlock the door when held up to the reader.

Bigger organizations or more complicated setups may need more extensive access control measures. “For those overseeing larger facilities or requiring enhanced security measures, investing in biometric systems such as fingerprint or retinal scans is advisable, despite the potential cost exceeding $10,000 per installation,” Klimaszewski advised.

To maximize your cybersecurity budget, Klimaszewski recommends that business owners “weigh the sophistication of the system against their genuine security needs to ensure they’re making a cost-effective decision.”

Many access control systems run off databases with codes specific to each person. You can generate new cards and biometric passes using your vendor’s software. You can also deactivate existing access control permissions to deny someone entry.

7. Install security cameras to boost business security.

For a time, CCTV lost its power as a deterrent. Video from security cameras was blurry, which made identification challenging, and footage wasn’t presentable as evidence in court cases.

Today, companies put up signage to warn intruders that their CCTV system records in HD or 4K. High-speed internet has also enabled HD and 4K picture transmission to remote control rooms. If an event is detected, a control room operator can view it and judge whether to inform a mobile patrol or the police. 

Klimaszewski recommends that business owners select cameras with at least 1080p resolution to capture every detail crisply. “Fuzzy footage can disrupt your security effectiveness, complicating both immediate actions and subsequent analyses,” Klimaszewski cautioned. “High-def cameras are worth the investment for clear-cut evidence and stronger security.”

Another significant CCTV development is the use of AI to alert controllers to unusual behavior and incidents in real time. Instead of watching a bank of screens for hours, the software captures video of unusual behavior and presents it to the control room operator, who decides what action to take.

8. Invest in an alarm system for your business.

Much like with car alarms, people no longer react to burglar alarm activations. In recent years, the market has shifted toward 24/7 monitored alarm systems. Klimaszewski says these systems can step up your security game. “When trouble hits, these alarms alert you and the security team, who can respond swiftly, often quicker than the police,” Klimaszewski explained. “The added security and possible insurance discounts make these alarms a must-have for a solid physical security plan.”

If mobile patrols get to the scene and discover the breach report was correct, they can then send for a police response.

9. Create a storage and disposal process for sensitive files.

Documents left on employees’ desks are easy to remove and may contain sensitive commercial information you want to keep within your company. Ask co-workers to store documents in locked drawers at their desks when they’re not using them. Also, have them retrieve their printouts immediately when utilizing a shared printer. 

Consider digitizing documents in an online document management system. This means scanning, indexing and uploading documents to a secure cloud for easy retrieval as needed. For added security, remember to shred all physical documents after uploading them.

Online business security measures to help company growth

With constant business internet connections, thieves don’t have to break into your premises to steal vital company assets like customer data, intellectual property and other sensitive information.

Organizations can take the following steps to protect sensitive business information and defend themselves from data breaches and other types of cybercrime.

1. Create a list of approved internet-connected devices.

Any device connected to your IT network that can access the internet is a vulnerability. To stay on top of potential threats, create a list of devices that can connect to business Wi-Fi. Include everything that connects wirelessly, including security cameras and shared printers. Deny access to any unregistered device trying to connect. 

Additionally, consider the following best practices: 

• Use Ethernet connections where possible. Many SMBs use Wi-Fi to network office computers and other devices, even though WPA2 Wi-Fi — widely in use today — is vulnerable to hacking. A connection via Ethernet cable is far more secure.
• Disable your router’s beacon signal.Switch off your Wi-Fi router’s beacon signal, making it invisible to the outside world.
• Discourage BYOD. Be very wary of a Bring Your Own Device (BYOD) policy. If a company-owned device goes missing, you can remotely shut it down permanently. However, you may not be able to do this to a co-worker’s lost personal device.

2. End the use of physical media to bolster online security.

Despite declining usage, many users still like CD-ROMs, USB sticks and flash drives. Physical media devices have many security issues and are easy to lose and steal.

If a colleague uses physical media for work and personal purposes, that can be a problem. They may unwittingly download a file containing malware that could infect the office network when plugged into a computer at work.

Consider using a cloud storage service like Dropbox or Google Drive to share files between colleagues. 

3. Create a human firewall with effective training.

According to the Verizon Data Breach Investigations Report, human error is a factor in 74 percent of data breaches, including phishing attacks. 

For example, cybercriminals may pretend to be from a company’s IT department. They’ll call an employee and tell them there’s a problem with their computer. The cybercriminal will instruct the employee to go through a routine that typically involves switching the device off and on. When the device is back on, they’ll ask the employee to log out of the Wi-Fi network and then log back in. The scammer will ask for the employee’s username and password to update the central password database. Now, the cybercriminal can gain remote entry to the network with legitimate credentials.

In most cases, employees are unaware — and never realize — that they’ve done something that threatens their company’s data security.

Training is the most valuable defense against phishing and other cyberattacks that prey on human error. 

Adhiran Thirmal, senior solutions engineer at cybersecurity firm Security Compass, says effective employee training doesn’t have to be complicated. “Start with regular training sessions that are simple and engaging, using real-life examples to illustrate potential threats,” Thirmal suggests.

Additionally, employees should feel comfortable reporting suspicious incidents. “Encourage a culture where employees feel comfortable reporting suspicious activities without fear of reprimand,” Thirmal advises. “Recognize and reward proactive behavior, and make sure that leadership consistently emphasizes the importance of cybersecurity in everyday operations.”

4. Strengthen your technical firewall to deny cybercriminals.

Cybercriminals take the path of least resistance when targeting SMBs. They’ll hack someone else’s company if they think it’s easier than getting into yours. The more complicated a system is to crack, the less attractive it is for a hacker to spend the time and effort to infiltrate it.

Consider investing in an intelligent firewall solution as a minimum security measure for your business. Firewalls can detect and block suspected traffic, shutting down an attack immediately.

5. Use encryption and virtual private networks.

Earlier, we mentioned that Wi-Fi is often insecure and that, where possible, employees should avoid it. If employees must access the internet outside the office in a public space on their device, they should use 4G or 5G connections instead. 

Cybercriminals often create spoof Wi-Fi access points using the venue’s name to deceive users into connecting. Once connected, data sent to and from the device is susceptible to interception. 

If an employee must use Wi-Fi, insist they connect via a VPN. The best VPN services encrypt all data, so even if the employee uses a spoofed network, the intercepted data will be indecipherable to the hacker.

“Encryption and VPNs are vital for keeping data secure, especially when it’s in transit or accessed remotely,” Thirmal notes. “VPNs add a layer of security by encrypting data and verifying the identity of users, even on public or unsecured networks.”

Start securing your business now

Your business’s future depends on your ability to protect your assets, people and reputation from bad actors, both internal and external.

Dealing with the ramifications of physical attacks or data breaches costs time, money and effort. Your energy and resources would be much better spent planning for growth.

High security standards are among the factors that can directly support your business growth. However, not addressing potential threats to your location, assets and data can lead to catastrophic consequences and business failure.