Small business is defined technically as a corporation, partnership, sole proprietorship, or any other form of unincorporated business that has less than one hundred employees and less than yearly revenue of a typical corporation or same-sized company. The definition of “small business” in regards to eligibility for tax treatment also varies by industry and country. In many cases, small businesses are considered pass-through entities, meaning that the revenue generated does not have to be credited or paid directly to the business for tax purposes. Instead, the amount is passed down to the owner of the business for use on the business’s behalf in receiving credit or payment. A typical example of this would be a sole proprietor that receives payments from clients for the services they rendered.
Unfortunately, there are many small businesses that fall into cyber crime. Cyber crime can include anything from hacking to phishing, both of which involve stealing information. Stolen financial data can be used to empty your bank account, which is a growing issue for many small businesses. This is especially true in today’s economy, when many business owners have limited or no access to their own accounts. Another type of cyber crime is intellectual property theft, which occurs when someone steals your business’ trade secrets, patents, designs, and more. This type of cyber crime is becoming increasingly common, which is why it is critical to protect your business against this kind of risk.
Many small businesses rely heavily on technology. Because of that, maintaining an IT department is often required to provide payroll, accounting, and other business-related services. However, the high level of dependence on technology means that smaller companies often lack the budget to properly fund this unit. To avoid crippling the growth of your business, it is important to consider hiring an independent business specialist to handle all IT needs.
If you run an online business, chances are good that you have some sort of digital content, such as graphics, videos, documents, or music. Unfortunately, it is nearly impossible to protect all this content from hackers. However, there are several services that can be hired to safeguard small businesses from this threat, such as content security management (CMS) programs. The use of a CMS protects your content by allowing you to restrict what people can copy and share, while still allowing you to have full control of the website.
One other danger that many small businesses face is social media. Millions of people log onto their social media profiles each day, which makes it possible for criminals to target this large segment of the population with less effort than traditional crimes. Since millions of people use Facebook, YouTube, Twitter, and other social media websites each day, it is imperative that you take every step necessary to secure your business from these potential threats. In particular, small businesses should take care to block websites known for phishing scams. There are several resources on the internet that will walk you through the process of configuring your Facebook security so that this nightmare never becomes a reality.
Many small businesses have realized the importance of making contact with their customers directly through their websites. Whether it is through the Contact Us page or via an FAQ, it is important for small businesses to establish direct lines of communication with their customers. Unfortunately, many business owners do not take the time necessary to properly secure this contact information. In addition to phishing scams, another way that social media sites can harm your business is by negatively impacting your reputation. Fortunately, there are several steps that many small businesses can take to address this issue before it gets out of hand.
One of the most effective ways that many small business owners can protect their business is by developing a solid email marketing campaign. By using a combination of email and webinars, a small business owner can effectively promote their firm, develop a trustworthy image, and establish direct lines of communication with their potential customers. While the cost of hosting these webinars can be expensive for some firms, many small firms find that it is well worth the investment. Not only does webinars provide a way for potential clients and current ones to connect with a face to face representative, but it also provides a venue in which to develop mutually beneficial relationships.
As you can see from the above example, there are a number of ways that the internet can harm your business. While phishing scams are generally the most damaging to a small business, viruses, spam, and hackers can also greatly impact your business. While many small businesses choose to ignore the negative effects of the internet, the longer that a problem is left unchecked, the more damage it can cause. By taking the time to properly secure your business’ web site, you can limit the negative effects that these issues can cause. For even more information on how you can secure your small business’s web site, be sure to consult one of our three small business experts. We will help you learn how you can improve your security and protect your business from the many perils that the internet can pose.