Creating and growing a business is an enjoyable experience and can be very rewarding. We all enjoy creating new products, innovating, expanding and thinking big. The best aspect of running a company is identifying opportunity - and acting on it.
However, businesses are also faced with all kinds of threats. Whether it is cyber crime, personal security, new legislation or contract dispute, it seems there is always something (or someone) out there looking to trip you up.
The best way to deal with these challenges is to avoid them in the first place. Being prepared can save you time, money, and, in extreme circumstances, the business itself.
PBM asked leading experts for advice on business continuity and security. Over the following pages there are in-depth features offering valuable advice on keeping yourself and your business safe. Ignore these at your peril!
CYBER CRIME
The recent cyber-attack which disrupted IT services across the globe may have been making headlines - but small businesses also need to be alert to other, smaller-scale fraud and scams. NatWest fraud analyst Sarah Grant talks about staying safe in a fast-paced and increasingly digital world.
PERSONAL SECURITY
One important consideration for a company is the safety of their staff and Directors when travelling abroad on business. The best way to do business is still face-to-face but how can you keep safe? The Association of Corporate Travel Executives recently reported a staggering 56% increase in business travellers’ safety concerns. Riz Omar, Global Operations Manager at Priavo Security, gives his advice of travelling safely.
CONTRACT DISPUTES
While business dealings are often about negotiation and compromise, sometimes things do go wrong and relationship breakdowns happen. By planning ahead you can help guard against problems, but if they do occur, litigation does not have to be the only solution. James Colvin, Partner at law firm DMH Stallard, looks at some of the ways businesses can guard against disruptive contract disputes.
COMPLYING WITH NEW LEGISLATION
Ignorance is no defence. If a new law comes in and you are now acting illegally, the consequences can be dire. The General Data Protection Regulation (GDPR) comes into force on 25th May 2018. The penalties for failing to comply with the GDPR can be very severe, with fines of up to €20 million or, if greater, 4% of group turnover. Although the changes don’t come into effect until next year, your business will have to undergo a huge number of changes. Will Walsh from Rawlison Butler looks at the key areas employers need to look at without delay.
