As a commercial business owner, did you know that you are faced with increased risks during the winter months? We've shared helpful insight so you're informed and aware.
Winter is the time of year that can present unique risks that can threaten businesses. We have outlined four risks that you should be aware of in order to protect your business this winter.
Four Business Risks to Be Aware of This Winter
1. Theft and Criminal Activity
While theft is always something business owners should be aware of, the risk increases during winter. A reason why is because often people are wearing extra layers of clothing which makes stealing and hiding items easier. You may want to invest in extra security. Days are also shorter in the winter which means it gets darker sooner, allowing more time for thieves to have access to your business in darkness. Having adequate lighting both inside and outside will act as a deterrent for thieves. You should also remove any valuable items away from windows, especially during the holidays when you might be closed for extended hours.
2. Slip and Falls
Snow and ice are popular in the winter which means the chance of slip and fall injuries is greater. Ensure you maintain the property surrounding your business by keeping it free of snow and ice; shovel regularly and use salt to prevent ice. You should use cautionary “wet floor” signs inside the building as customers could track in snow from their boots. It’s also important that you have a slip and fall policy so that employees know how to handle this situation should it occur.
3. Cyber Crime
Cybercriminals are becoming increasingly creative to get the information they need from your computers. Since consumers are spending more money in the winter months for the holidays, hackers have more choice when it comes to stealing consumer credit information. If your insurance policy does not include cybersecurity insurance, you should consider adding it.
4. Equipment Breakdown
The harsh winter weather can affect your business operations and could lead to equipment breakdown or loss of power which could mean an interruption in business operations. Be prepared by using a back-up generator; this can keep customers shopping and your business running until power is restored. You should also consider adding equipment breakdown and business interruption insurance to your commercial policy.