Protecting your business

We have arrived at the seventh and final edition of our multi-part series on the topic of tasks you should be adding to your “start up to do list”. In past weeks we have discussed starting your small business checklistorganizing your startup, are you sure you need to hire now?, when do you need a lawyer? the importance of small business accounting advice and organizing your family business.

This week’s topic: Protecting your business

Often, people will mention to me that their business is like their baby. Not only that, but often their business location is like a second home. You spend countless hours planning, executing, strategizing and re-strategizing your business to achieve optimal success and end up being the first one to come in and the last one to leave.

To ensure your efforts are not in vain, you want to protect your business. Of course there are practical security measures that you could have in place. However as a business owner you may not know what’s up ahead that can make your business vulnerable.

Protecting your business is an intentional effort to identify risks that could delay, harm or derail your business from achieving its goals. Be proactive. We do not have a crystal ball to know what tomorrow may bring. Taking measures to protect your business will remove the stress if and when an emergency occurs.

So what are you protecting your business from?

  • Potential scams and fraudulent situations
  • Fines and penalties
  • Natural disasters
  • Records management
  • Weather conditions such as severe storms

Identifying the risks is an activity to expose what could potentially weaken your business and finding a solution.

Here is your final checklist. Take some time to share it with your business friends and hashtag #MyStartUp #SmallBizChecklist

☐ Emergency preparedness: Is your business ready?
☐ Not sure which permits are related to your business? Click here for BizPal.
☐ Are you aware of the rules of playing music at your business?
☐ Have you read through the countless tips that our business counsellors have written on fraud prevention?
☐ Click on Email marketing to learn to avoid the spam box with these do’s and don’ts.

This is Fraud Prevention Month. Stay tuned to read more blogs on how you can protect your business!

If you have been in business less than two years, sign up today for six months free membership to CFIB through the CFIB My StartUp program.

______________________

Cesar Gomez-Garcia has been with the Canadian Federation of Independent Business for six years. His current role at the CFIB is helping members with their questions on compliance. These questions can range from employment standards to health and safety, as well as complicated red tape situations that small businesses face. His passion is reading and writing about entrepreneurship. Learn more about Cesar via LinkedIn and follow him on Twitter @josuegomezg.

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