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Your Business Needs a Security Budget

locksmithMAN • May 24, 2019

As companies set aside a budget for various departments, security often gets left out. Yet there’s a wide array of threats that businesses face; from internal threats to external ones. In the event of break-ins and frauds, businesses that don’t have a security budget in place end up losing a lot of money. In turn, this has detrimental effects on the overall business performance. Essentially therefore, having a modicum of business security in place, helps ventures stay prepared for threats not even perceived. Here are more reasons why you need to set aside a security budget for your business.

Setting aside a security budget saves you money

It’s a production that is done with a cast of one or just but a few, has no script, no lights, no audience and it’s mounted every 10 seconds – yet it fetches the producers some $1.4 billion annually (purely profits). If you do your calculations, this is almost $4 million per day. Its name is “Burglary.” One of the histories longest running show. That your business location prides in being on one of the safer streets is not a security assurance. Without a security plan in place, all businesses are prone to theft. And unfortunately, unlike lightning, thieves are notorious for striking the same place multiple times. Away from your business’s physical security, nowadays, with the rise in internet fraud, all it takes to bring your business down on its knees is a single compromised password. With all these facts, getting a commercial locksmith to inspect your locks and help you come up with more secure locking systems will enhance the physical security of your business by discouraging burglars. A security budget also caters for internet and online fraud prevention.

Part of setting up the budget is revising or upgrading security procedures

When setting aside a business security budget, it’s natural that you will also revise or upgrade your business security policies and procedures. When there’s a gap in your business’s security policies or procedures, your enterprise is prone to theft. Keep in mind, thieves keep upgrading their skills, so when you don’t upgrade your policies, your business becomes an easy target. Security procedures refer to detailed actions and instructions on how to implement security controls as enumerated in the security policies. Security procedures ensure consistency in the execution of a security business process. These procedures are to be followed to the letter each time a security threat arises. They provide direction to how your employees should behave in regards to the company data , assets, physical access and so on. Security policies, on the other hand, define who, what and why, in regards to the desired behavior of the overall security posture.

Preparedness in times of emergencies

It goes without saying, setting aside a business security budgets is itself a plan in times of emergencies. Security threats don’t just refer to burglaries and internet frauds. Natural disasters could also leave your security systems damaged. Natural disasters can strike anytime, anywhere; sometimes predicted and often times striking without warning. Floods, earthquakes, wildfires, and blizzards could potentially disrupt your supply chains, communication, physical building, equipment, and security systems. Every business in disaster-prone areas should have a disaster emergency plan in place, part of this should be a security plan.

There’s a direct relationship between the security of your business and its success. By setting aside a security budget, you make it easier for your business to bounce back from detrimental events such as burglaries, and natural disasters.