Protecting your business – prevention is better than cure

At the end of the day your business should have insurance to cover a setback. But what about taking a few precautions? This is good business practice and the costs are tax allowable.

A good business will complete a risk assessment – What is it that is likely to cause a problem? And how can we prevent that happening or make sure it does not have a big impact.

Some aspects the government have legislated for under the banner of Health and Safety, but you need to look at your business specifically.

Examples:-

  • Shoplifting – get CCTV
  • Breaking & Entering – get better locks
  • Fraud – improve your record keeping and checking
  • Flooding – put sensitive items up high, install dams
  • Loss of power – arrange back up generators
  • Computer failure – use the cloud for backup or storage

HMRC are happy for you to keep records electrically and we have some excellent online software systems to keep your business records.

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